14g spokes are about 2/3rds the thickness of typical mudguard stays (2mm vs 3.2mm) and this makes them a small fraction of the bending stiffness (which goes with the cube of diameter IIRC). Plus the stays have to be longer than typical spokes are.
I made a set of mudguard stays with 3/32" diameter (because I had a reel of the correct wire) and they are noticeably flappier than any other set of mudguards I have used.
FWIW a while back I found myself eyeing up some PVC cable trunking (about 25mm wide) and concluding that the 'lid' might make a plastic version of a salmon type mudguard.
Note that the grooves in the section might
a) prevent the worst side-spray and/or
b) make a handy place to stash a dynamo wire or a stiffener of some kind.
Now, PVC doesn't weather that well and you might need to stiffen it with something along the back. However provided you can deal with these things the scheme does have one major attraction; cost. A 2m length of trunking costs peanuts (slightly over £2 in screwfix for example) and would be enough for a pair of DIY mudguards. In the event of a prang, another £2 will furnish you with the material for a repair, provided the stays are still usable.
Genius or madness? I don't know yet because I have not put the plan into action....
cheers