Is this is plausible at all? It seems the most obvious/naive approach, so there's probably good reasons why it's not used - what are they?
Viscosity is not important.
Starting with inviscid Navier Stokes:
$$ \frac{\partial \mathbf u}{\partial t} + \mathbf u \cdot \nabla \mathbf u + \frac{1}{\rho} \nabla p = \mathbf f $$
Conserve mass by tracking density as a state variable. We advect it and update it with the divergence of the velocity:
$$ \frac{\partial \rho}{\partial t} = - \mathbf u \cdot \nabla \rho - \rho ( \nabla \cdot \mathbf u ) $$
Next, calculate pressure from density:
$$ p = \frac{1}{\alpha} ( \frac{\rho}{\rho_0} - 1 ) $$
Now, we have pressure $p$ and we can use its gradient to calculate the change in $\mathbf u$ from the first Navier Stokes equation (rearranged from above) $$ \frac{\partial \mathbf u}{\partial t} = - \mathbf u \cdot \nabla \mathbf u - \frac{1}{\rho} \nabla p + \mathbf f $$
This idea is similar to simulating the Shallow Water equations, where the velocity divergence is used to update the height of the water. The height is like a 2d density (mass per area). The weight of the fluid causes pressure. Differences in pressure (gradient) cause accelerations in the velocity field.
However, I don't seem to get any eddies/vorticity from simulating the Shallow Water equations, so I wonder if there's some fundamental problem with this idea...