It would. You certainly wont see teams fielding weak sides, chairman wont allow it if that was on offer. Stadiums will be packed for every round, and it would give a great chance for a lower pl team for example west brom or palace to have a taste of it, plus the financial benefits, being able to attract a player etc.
Its a win win for everybody. One argument that migjt come up is, that particular team might be out of their depth in the cl and be an embarassment. But if we are being honest, we didnt exactly cover our selves in glory did we ?...and liverpool were even worse last season.....while leicester have done just fine.
What would be great is to never hear "top fucking four" again