In the same way that the universal answer to
"Why does the speedrun do..?"
is "because it's faster", most anything of industrial importance has the answer "because it's cheaper / more efficient".
That doesn't mean it's impossible, and indeed there are examples. Even famous historical ones.
Consider Tesla's "Egg of Columbus" demo:

We see a (probably laminated iron) toroid, with windings on a few sectors, and a solid metal rotor (the egg) in the middle.
When the windings are energized alternately, a rotating magnetic field is created, and the usual induction, phase shift and torque system is set up. This works equally well for a permanent magnet (which then rotates synchronously to the field, when lock is maintained as it spins up).
The key that other answers/comments (at time of writing) are missing is how the windings are energized. In this case, we have:

during one phase, and

during the next (1/4 phase), and so on alternately (the first again but opposite polarity, then this in opposite polarity).
This does not use the iron ring as a toroidal inductor, but [ab]uses it as a sort of bar magnet with a hole in it. The top-down view looks like so:

Notice windings are energized in opposing direction, forcing magnetic field out of the core and into space, where otherwise leakage inductance would be present if this were a plain old transformer.
In this setup, the core doesn't do a whole lot, actually; since most of the magnetic field line length goes through air, the effective permeability is fairly low (single digits, 2-8 say), even if the iron's relative permeability is some thousands.
The real question is, how you intend to couple this stator to the rotor. A loose coupling, as here, gives very poor effect indeed. The stator gets rather hot while the egg takes some minutes to spin up -- pitiful torque, passable as a demonstration but hardly an industrial marvel. A close-fitting rotor (typically composed of laminated iron with a "squirrel cage" conductor framed around it) intercepts much more of the field lines, giving good power coupling and efficiency, and you have the basic induction motor; or use a permanent magnet (typically strontium ferrite or NdFeB supermagnets embedded in a solid or laminated iron "pole piece") for the synchronous equivalent.
Also, changing the windings to a three-phase arrangement is a bit more efficient; Tesla's original invention used two phases at right angles, which is mathematically simpler but needs one more wire. With those modifications, and various other optimizations to structure, geometry and material, you have the modern "BLDC" motor component (the "BL" part; the "DC" part is another matter!).