No, it wouldn't. A much as people don't want to accept it, Satan has actually kept Christianity active for all these years. Fearing eternal damnation has gotten more of a reaction out of people than actually wanting to please God. However, I think it would be a far better religion without the Heaven reward. Like Buddhism, it would be about self-improvement and seeking some form of enlightenment rather than doing those things to simply appeal to a higher power.
That's also my problem with established religion. Somewhere along the way, that actual principles of the teachings of a particular faith have become less important and what's become more important is to maintain an establishment and sadly, that establishment is built on fear and greed.
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