I think it's not hard to implement, but there are some "logical" difficulties. Project groups are just a package (plugin) for the IDE. And lazbuild, AFAIK, doesn't support plugins. Of course, it would still be possible to implement lpg support "natively", but that's not quite right.
And it would still entail the problem that MarkMLl mentioned - adding new command line parameters with error handling, build order, etc. lazbuild already has a lot of parameters, and it's hardly worth overloading it. IMO, I think very few users use project groups...
An alternative option is a separate utility (in the "components\projectgroups" folder) that can be built together with the package, and can even be moved to the lazarus root folder (next to lazbuild) to be accessible from the $PATH environment variable.
glazbuild, lazbuildg, lazbuildgrp, grplazbuild, lazpjgrpbuild...? I'll leave it to you to come up with a name for such a utility )) Since it will most likely be accessible from $PATH, the name should mention its affiliation with Lazarus.
This utility can be just a "wrapper" that just parses the lpg file and calls lazbuild sequentially for each project. And it can have the above parameters for processing the build order, errors, etc. I think this will be an acceptable option that will rid lazbuild of unnecessary code and parameters, and will not clutter the installation if this plugin is not installed.