I’m yet to carry out some tests, but I wanted to first approach someone who has thought of this before and was curious enough to test the idea.
Is it possible for the Python dictionary to be used as a production grade key-value store such as redis or any other key-value store on the market?
I think the simple answer is ‘no’. 
The less-simple answer depends a great deal on what you mean by ‘production grade key-value store’.
Something like redis perhaps 
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I guess I’ll go with redis-py. Though I’mma try testing out the Python dictionary and see if it can handle what redis can. Perhaps also see if it can be extended.
It’s very possible that you are comparing things that aren’t really comparable.
First, are you considering a local (one machine only) instance of Redis, without any plugins or additional modules, and with the data being held only in memory?