Should have a history tool as in photoshop
No way a TOOL can be done as it is in PS. History brush acts like an eraser that cleans the layer of current state to state chosen in a palette. So this eraser is raster-based. AI has vectors, not a raster. How do you expect it to behave? What if my last action is curve modification? How curve would look at the edge of the 'eraser' stroke?
Or you mean PALETTE and not a tool?