Depends on what are the set guidelines are?
We can definitely come up with some great rules for building teams in the off season which we basically have now. The issues are those rules don't work during the season when max pointed teams try to pick up a zero point player that we know by midseason is a list caliber player, or two teams merge and take the best players from two different teams and stay in the same division, or a major team folds and a AA team grabs up elite players, or a team that is #1 in AA tries midseason to add an elite player...etc.
During the season is when guidelines and points don't work. If everyone started the season with the team they built by the guidelines in the offseason then it could be done.
Also who would be on your committee that doesn't have "skin in the game"? Chances are your list will include people that no longer know the game if they don't have any skin in it.