While I do think much of the criticism is valid, I do think it is an interesting idea. Perhaps it could be limited to only your bases, after all I am pretty sure for example has a say in the runway length in Dubai. This would for example also allow a major Irish carrier to expand Dublin's runway to accommodate larger jets and as such allow them to operate long hauls earlier.
In summary, I think it is a good idea if you are restricted to only being able to extend runways in your own bases, perhaps more criteria such as also having a terminal of a given size and perhaps even a marketshare of a specific size. In other words, you would have to be a major airline at the airport to be able, and it would be hella expensive