I see it as plausible.
I think the theology (or study of that religion) would inevitably result in splintering and differing interpretations of ideas (really more like symbolic representations of higher ideas).
I see religion as being about a path to God/divinity, and once foundation of religion is accepted, then becoming 'closer to God/divinity.' Therefore, if the 'end goal' is attained where all individuals who are intended to be with God (by God's side) or fully realized in their own divine nature, I'd like to think it is plausible how that all came about (i.e. reviewing entire history of the universe), to find the common thread, or path, that lead all to the final destination.
But even I question that take on things. Partially cause I'd probably have umpteen thousand questions around "why not sooner?" and mostly cause in my spiritual understandings we already are there/here with God, but are blocking that awareness.
Such a religion, to me, would be far more having to do with (divine) experience and direct communication rather than judgment and scriptural (or indirect) communication.