How do you want points to travel to the line y = x? I could easily think of a way to do this using rotation matrices. But then a point would not travel to the closest point on y = x from its original location. It would travel to the nearest point on y = x that is on the circle with radius equal to its own distance from the origin. In other words, they would travel around on a circle until they reached y = x. But if you use the term "projection", I think you mean that each point goes straight towards the nearest point on y = x, right?