Interesting idea you have.
If I remember correctly, wood decay organisms (bacteria) require food (wood), oxygen, and moisture. Get rid of any of the three and wood will not decay.
Treating wood takes away the food source, and getting rid of the moisture isn't likely either as is well stated in these messages. Getting rid of the oxygen is possible only if the wood can be submerged or completely saturated with water (not too likely either).
If the wood could be encapsulated below the groundline with a plastic 'boot' and it be filled with water to saturate the wood, then the wood wouldn't decay. But the transition zone between the saturated wood and the unsaturated wood would likely decay and the wood would lose its strength.
I think pilings in the water will not decay below the water line, but will decay at the water line.
But its still an interesting idea, at least for discussion.