Online the program could just not allow the combos to come up randomly. For a tournament IRL, if that's too taxing, you can just not play with those cards. They have errata, maybe some people won't know it, hey a good reason to leave out Possession too.
Is the excitement of Golem hitting Band of Misfits so important that this stuff is actually a superior option to tossing "may" onto the card?
I don't follow. I don't see how Golem hitting BoM is relevant, and "may" only gets rid of the mandatory loop.
The mandatory loop will not happen unless someone wants it. You have to set up the board for it, then buy Inheritance with the idea that that's what it's getting you. Making it non-mandatory doesn't fix anything there; you set it up because you want to do it.
The rule in Magic tournament play is that if you create an infinite loop like this, and you have the option to stop the loop, you must designate how many times you would like to perform the loop, then start describing your next steps in playing the game. This is intuitive, because you are being required to play as if you at least -ostensibly- want to win or want to draw-by-score, and players who lock the game must at least pretend they did so by mistake. If you say "I want to win and my path to victory is to do this 1,455,207 times", you are offered a shortcut to perform the action by saying "I do this loop 1,455,207 times", and using the faster method of describing it is obligatory, the same way playing your copper without describing the history of copper's usage across civilizations every time you play one in hopes of a timed draw is obligatory. It is actually a regular occurence in Modern, although the decks that put themselves in a position of needing to do this are like 10%, mostly Devoted Druid.
Because Moat is already in Dominion, Dominion tournaments already require this rule. A player who reveals Moat many times needs to specify "I reveal a Moat from my hand, and I'm still not saying whether I have several or it's the same one, 4,000,000 times." And then things keep going.
If Band of Misfits said "may", it would be no different from Moat, and would require neither kingdom generation software changes nor changes to tournament rules beyond those already required by Moat. (I -think- the online client already uses a commensense rule of "look man, I know you aren't getting thing out of this" and forces you to reveal each moat in your hand just 1 time, so that same commonsense rule could be evenly applied to Band of Misfits or Captain Inheritance loops, even though it's not strictly canonical).
Magic has locks that truly lock the game in an obligatory manner too. Let's not be unfair. I am definitely not saying, no prominent designer is ever allowing these things. About five years ago it started to become problematic that the card Oblivion Ring (
https://gatherer.wizards.com/Pages/Card/Details.aspx?multiverseid=397760) could be used to go after a draw from a losing position, if you drew two. A professional player did it in a youtube video on the online client and it crashed the online client and people went, haha, the people who design this game are not perfect.
They have switched to releasing variants of Oblivion Ring with wording that cannot cause the infinite loop. And as they design new cards, they are showing signs of making sure it's not ever possible to play to a draw like it was with Oblivion Ring, because no one likes that. Including this infamous bad boy:
https://gatherer.wizards.com/Pages/Card/Details.aspx?multiverseid=423686 who has the conspicuous word "may" in his text so he can't lock up the game. He actually got banned for reliably creating loops that -win- the game for the user. But hey, he did not lock up and draw the game - the only thing people hate more than losing is drawing. Usually.