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In the theme review guideline, its specified that themes cannot register custom blocks. And since, there are not enough core blocks to create a whole page including header/footer, I am not sure how a theme can be “block based theme”.
Is there any plans on allowing themes with Custom Blocks in the repo?
I can’t answer your second question (though I believe the answer is no). But I will say that one of the discussion topics I’d like to address at some point is: “What blocks are missing from Core that will be required for full-site editing?”
There are already numerous blocks in the works, but we’ll need more:
Site Title Block (Already merged)
Site Description Block (Already merged)
Post Excerpt Block (Already merged)
Post Content & Title Blocks (Already merged)
Post Author Block (Already merged)
Post Date Block (Already merged)
Featured Image Block
Post Tags Block
Post (or Query) Block
Comments Count Block
Comments Block