The go/no go decision on takeoff for airliners is calculated as a V1 speed. The question is, why is there no time or distance for V1 calculated. In other words, if we don't reach V1 in X seconds or by X point on the runway the takeoff is rejected.
An example of where this might have prevented disaster is Air Florida Flight 90. The engine inlet probes were frozen, resulting in an inaccurate EPR reading. This caused them to set thrust much lower than they should have. They reached V1 and VR but with degraded lift, due to icing, they were not able to climb over the bridge. The FO felt something was wrong, but the captain told him it was fine and called V1.
The chain of events leading to this accident was very long and full of bad decisions. But had there been a hard and fast rule that if V1 has not been reached by this point then reject takeoff, the chain could have been broken.
Another example of where degraded performance resulted in too long of a takeoff roll is the Lokomotiv YAK-42 crash, although it doesn't appear they even had a V1 speed calculated either. They weren't accelerating fast enough, but the captain carried on expecting it to lift off at any moment. They went right off the end of the runway before it did. The reduced acceleration was obviously not enough to make the captain reject right away and by the time it did become obvious he was out of options.
There may be an unknown number of runway excursions where there was degraded performance and the crew did reject takeoff, but too late to stop.
If an engine has a problem it may continue to function in a reduced capacity then finally failing after V1. The procedures call for continued takeoff after that point, but they may have used up too much runway already.
There are myriad things that can cause degraded performance on a takeoff roll. Anything from tires, brakes, engines to flap configuration, even runway condition can slow you down and it may not be obvious that it's occurring. Many of these things won't show up on an instrument scan or a checklist. It just seems like there's no specific guidance as to how long you wait for V1. How does a pilot know when it's time to call it off?