Some teams - The Clarets, for instance - are geared for defence, playing on the counter. If this system were to be introduced and we were playing Man City or Liverpool, to get anything from the game, instead of shutting up shop at the back and making it difficult for the opposition, we would have to 'come out and play'. The result would probably be something like 12-2 to City/Liverpool. But every other team would be doing the same so, at the end of the season, things would very much stay the same, imho. More entertaining for the neutral fans, maybe. But the majority of fans don't care about entertainment as long as their team is winning/doing well. The 'entertainment' is a side dish.
Just for reference; between 2005 and 2018, average football attendances are up by approx 4 and 1/2 K in the Prem and 3K in the championship. League one attendances have risen by about 600 while League 2 attendances have remained static.