Sure, as long as anyone who leaves keys (under a certain amount of wipes anyways) gets stuck with other said type players. And you have to have done said key you are queing for in a premade or have a certain rating.
I barely M+ at all and this sounds like the worst idea ever.
Just create a solo q key with only a level on it and only match ppl with similar score and key level, everyone’s key takes a hit if fail, and maybe make the rating like pvp, do bad drop points actually make it competitive