As it stands now, a team can afford to lose a game towards the middle-to-end of the regular season and still bounce back and win a state title. The idea of "lose or go home" after Week 5 does not appeal to me at all.
Additionally, what do all the teams who lose in Week 6 or 7 do for the rest of the season? Try to find games to play the other teams that got bounced early? Hard to schedule a "home and home" series with another team if you don't know who's going to be in the playoffs for how long both this year and next.