Warp Image with Point Animation

[Blue]

I like the idea of point animation, but I've noticed that point animation will not deform a vector shape's image texture. If I understand correctly, only bones can deform an image correct? (Other than using the scale and shear tools on the image)

Is there a script that will automatically create a bone at every point on a vector shape, so that you can have pseudo point deformation on the vector shape's image texture? Or, maybe you have a better solution!