110 lenses are indeed very good at 2.8,
every shot in this set taken with a 110 lens was wide open.
However, a 110-Q adapter with an aperture adjustment is functionally different than the a K-DA - m4/3 adapter. The aperture control in a DA-m4/3 (or DA-Q, etc) is simply a ring with a bit of metal in the right spot to move the aperture lever on the DA lens, the aperture mechanism itself is already in the lens.
110 lenses do not have the aperture mechanism in them at all, there is no interface between the adapter and lens, so an aperture-control 110-Q adapter would have to consist of it's own aperture blades, or could use a drop-in system of aperture disks similar to a lensbaby (just behind the lens instead). The former is obviously preferable for ease of use, but much more difficult to make. If it cost less than $100 for such a thing, I would seriously question its durability.
On the supply side, I have to imagine selling any adapter at $100+ is a tough sell, especially one where you could purchase almost the entire lens lineup for about the same.