IMO, after having done a handful of Struts apps and some JSF apps… this type of generation is a little TOO much. Rarely, in a real-world production application, do you end up with a 1:1:1 mapping between DB -> Form -> JSP page… in a sample or prototype application I can see it, but in a real-world application the Forms are always a little more complex, your JSP pages are always slightly different. So even if ME had this ability, I don’t know that I would use it. I think this is why tools historically haven’t offered this.
BUT that is not to say that it wouldn’t be useful, I’m just commenting why I think it hasn’t been done before.