Yes, I suppose he would've done alright for a couple of years, but, had that been the case, they would never have been able to compete with the likes of Pink Floyd, Cream, Fleetwood Mac, Traffic, etc. once the Psychedelic Era began, and they would've simply broken up and gone their separate ways.
Ultimately, it would've meant that classic albums like FACE TO FACE, SOMETHING ELSE, VILLAGE GREEN PRESERVATION SOCIETY and ARTHUR would never have been made, and the world would've been denied the genius that is Ray Davies, and that would've sucked.