Maybe, but in reality I don't think it would work well, we are not talking about 40k tournament here, how many people do you think would show up? It would be a logistical nightmare, you would have over 400 players, it's hard enough now, takes 9 days. Yeah I know just limit the field to the first 50 who sign up. Well that too would be wrong since you wouldn't have the best players playing.
This is the reason the PGA has qualifiers for opens and requirement of a 1.6 handicap to even enter a qualifier, I guess you would say thats not open, but the only thing open means is it's open to players outside the tour, not anyone with a bag of clubs.
Not to say I don't see your point, I guess a lot of golfers with a 2 handicap are not happy, but such is life. could you imagine if the PGA Open accepted the first 100 players to sign up for $100? I know I would stand in line 20 days ahead of time to be in line with my $100

forget the mail. Just wouldn't promote a great open, in fact nobody who entered would even make the cut.
You have to give those who best deserve the chance at making a mark, I like the requirements even it does mean I can't play in the PGA US Open.
And the $2,000 was a smart idea as well, lets say it was 500, you couldn't hold the event in these places, they couldn't handle 300 players, it would take over 7 days and too many players that have no shot at all would have entered. hence a waste of their time and their money.
Qualifiers serve a purpose, sure I think the idea will be tweaked and made even better, maybe even more widespread if the IPT is successful, but for now, it was the right choice in my mind, and works well in my opinion.