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there is many ways to make it a viable thing.... those 10 players can't play the game when they want if it was only one other person that can play... it also becomes impossible to play if the owner sells the game.... finally I'm sure DLC would have been inaccessible.... so even if it would have eaten some revenue from initial sales (and I doubt it would have been much bigger than second hand and disc based lending already does) it could have generated more direct revenue to the devs through second hand fees + more DLC bought than with current state of things....

but I believe nobody knew exactly what would have been the consequences of that model for any party since it hasn't been tried on a large scale.... but I believe it could have been viable if done correctly....

I believe they cut it because the entire logic was based upon devs getting a share of the resold games.... without that new income the sharing plan is therefore less viable... so it's not a technical issue it is a economical one....