When you experiment with the Raspberry Pi on a regular basis and you connect a variety of external hardware to the GPIO port via the header you may well have caused some damage in the past. A voltage that’s too high, or an electrostatic discharge blows up the port and you can say goodbye to your cherished credit-card-sized computer. The Raspberry Pi buffer board prevents all this!
This board must be produced in sufficient quantities to achieve a viable price level. If it is more expensive than a Raspberry Pi, there is no point.
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I have just created the GroupGet for Raspberry Pi Buffer Board!
I have been working on a similar design for a board. I am using Raspberry Pi's to support animation in model railroading. After the demise of one Pi 3 I started a project to isolate the single board computer.
Your design has a number improvements over mine. Power options, smaller size and support for connecting two Pi's have some merit.
My design incorporates pluggable IC's in the event a smoking event is not accommodated by fusing protection. Throw away isolation boards because of blow components was a design criteria that did fit with the spirit for the board. Protecting the Pi is first but a second chance is also a nice idea. Replaceable components like a fuse seemed prudent.
I am currently testing the prototype of the project and will be comparing your python code to what I have kludged together.