The very essence of a rim design hinges on compatibility. There is nothing about the 19th century 28" rims that would be compatible with 700c tires of today, but the 1975 Mavic Module E's would absolutely fit. Those early American 28 wheels would have been fitted with solid rubber tires. It wasn't until 1887 that Dunlop first applied the pneumatic tire to tricycles and bicycles. Pneus in the early 20th century would have distinguished pneumatic tires from solid rubber, not clinchers from tubulars. While Michelin did introduce clamped tires with a separate inner-tube as early as 1891, the 700c clinchers we have today started with the 1975 Mavic and Michelin combination. It is this design and nothing prior that would be compatible and interchangeable with what is sold on the overwhelming majority of road bikes today.

The 27 inch wheel was not introduced as a new standard in an attempt to get people to buy new hardware, but it was introduced to get British consumers to buy Dunlop tires rather than Michelin. Dunlop introduced a domestic standard in an effort to retain domestic sales rather than give way to foreign imports. It should be noted that at the time of its introduction, the British weren't buying 700C tires, but primarily 26" tires. A larger diameter, narrower wheel with high pressure tire was essential for greater performance. The British could have adopted a French standard for tubular tires, or made their own standard for clinchers. 27's were therefore the first high-performance clincher wheel and remained so for about 50 years. The 700C clincher was introduced as a new standard in 1975 but wasn't widely adopted for another 10 years or so. I wouldn't describe it as a new standard to get people to buy new hardware, but instead it allowed people to run clinchers on their bikes that were previously limited to tubulars. 27's had long been offered in both. At some point in the mid-eighties, bike makers did switch the standards and this did get people to buy new hardware. I don't really see the justification for the switch from 27 to 700 except that Raleigh had declined in influence and French, Italian, and Japanese makes had taken over.