Can sufficiently finely-ground matzo meal substitute for flour in leavened bread?
First, I'd ask - why would anyone want to make bread from matzo meal even if it was the consistency of flour? Bread has leavening (yeast) so even using matzo meal, it wouldn't be fit for Passover where no leavening is allowed.

But if you're simply curious to know if it's possible using, the answer is no. Matzo is cooked so the heat-treated gluten in it wouldn't be able to stretch and maintain the structure needed in bread. If you tried, you'd have bubbly dough that tries to rise due to carbon dioxide given off by yeast but unable to maintain structure. You wouldn't even be able to shape it without it falling apart unless very wet. Baking would likely make the entire thing collapse.


  The baking performance of gluten declined progressively on heating and most of its functionality was destroyed by 75°C.
  
  ...data indicate that there are heat-induced alterations in gluten proteins at temperatures above 55°C, which appear to be involved in the loss of functionality (baking performance) on heating.


The effect of heat on wheat gluten and the involvement of sulphydryl-disulphide interchange reactions from the Journal of Cereal Science.

On the other hand, it might be possible to make a quick bread if you used baking powder instead. Quick breads don't rely on gluten for structure.