If you are focusing with a sufficiently small aperture, yes, its possible. However, for a large aperture with small DOF I don't think its possible to be accurate. For one thing on Canon cameras at least the matte screens don't show anything above 2.8 aperture.
I don't think I understand what you're talking about when you say they don't show anything at f2.8 or higher, but in general there is a tradeoff between the brightness of a matte screen and its focusing accuracy.
A matte screen must not be 100% transparent. The idea is that an image is projected onto the matte screen, and that your eye focuses on this image. If the matte screen is too transparent, it will appear brighter, but your eye will focus on what is coming from the lens instead, and since your eye has built-in focusing, things will look sharper than they are and you can't focus accurately. That is not a problem with an autofocus camera, because you don't use the matte screen for focusing anyway, it's just for composition. In effect modern DSLR viewfinders are closer to what you have in your average rangefinder camera, except that the rangefinding bit is done by electronics and that the image is produced through the lens. That's why camera manufacturers have been putting more transparent, brighter screens in their cameras nowadays, which, consequently, make manual focusing more difficult and eventually impossible. You couldn't focus through an M3 viewfinder either even if there were coupled optics inside. Focusing aids such as a split prism or microprism ring are nice, but they're not the issue here; you can have one matte screen that is fine for manual focusing, and another that, while delivering a brighter image.
This tradeoff has been known for ages. Since 99% of customers don't do manual focusing, it is not a problem for most of the customer base, who enjoys a brighter viewfinder image instead. People who need manual focusing have been replacing screens in their DSLRs for something like a decade now, in analog SLRs even longer, professional DSLRs offer a broad range of focusing screens, for others there's plenty of aftermarket focusing screen options optimised for manual focusing, with focusing aids if you want them. It's neither news nor rocket science.
Philipp