There is an opposite approach to take if you're hiking in, say, 40's or warmer (I'm not talking about knee-deep snow here). The misery of wet feet generally comes when your feet are trapped in wet clothing (shoes/socks). Bare wet feet are much less of a problem, when the moisture is not trapped against your skin and chafing against it. Skin dries very quickly, far more quickly than any form of cloth.
I'm almost always barefoot or in minimal sandals, and I'm reasonably comfortable down to the 20s in dry weather, or probably the 40s in wet weather, as long as I keep moving to keep the blood flowing. The key is to go barefoot or wear minimal footwear a lot in everyday life to build up your circulation and skin toughness (and to learn how to watch your step and take care of your feet!). Enclosed shoes restrict circulation and make your feet more dependent on being enclosed... a vicious cycle. My feet always used to be cold... they're SO much better now that I've trained them to take care of themselves.
I do wear enclosed shoes if I'm walking any distance in snow. Some hardy folks up north have even mastered "snowfooting" without shoes!