Use View as root homepage handler
I don't think this is possible without modification to Drupal core's routing. When you specify a Views page as the frontpage (e.g. /frontpage when you override the default Frontpage view), you're telling Drupal to route all www.example.com requests to that path (e.g. www.example.com/frontpage). 

If you mandate that a required contextual filter (e.g. /frontpage/%), that path component isn't "copied over" (e.g. www.example.com/cookies doesn't route to www.example.com/fronpage/cookies). Nor can you add a views page with the root path /. If this was possible, you'd then have to deal with the problem of overlapping paths (e.g. should /admin be handled by system_admin_menu_block_page() or by your view?). 

Instead of trying to fight Drupal's routing system, you'd be better off trying to hook into the alias system. For example, a module invocating hook_taxonomy_term_insert()/hook_taxonomy_term_update() could add a new alias for each term item you wish to shortcut to your view (e.g. aliasing /cookies to /frontpage/cookies).