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You're missing the point. The point is to give teams a chance to compete, not make everyone equal.
The NFL still has small-market and big-market teams even with the revenue sharing and salary cap system. However, the small-market teams that spend their money better are helped by being able to spend a LOT more then they could otherwise.
If everyone were equal, it would be just as boring as it would be if the Yankees won every game.
GM does distribute their money that way, but they OWN all their subsidiaries. Despite the structure of Major League Baseball, the teams themselves are completely owned by the owners. That is why they are franchises and not subsidiaries.
An example I've always liked is thinking about a series of McDonalds' restaurants in a city. Each wants to make as much money as they can, but they don't want to put the others out of business due to the financial advantages in marketing and just people knowing what they'll get at each place.
As for the ticket-splitting, you miss the fact that yes, the Yankees gain by sharing ticket sales with the Devil Rays in Tampa, but the Devil Rays gain a LOT more when the games are in New York. The Red Sox can charge that much, and it allows the other teams to get more when they play in Boston.
The NFL doesn't have anything near as powerful as what you are proposing, yet they are the model for a truly well-run league. A system like that should be the goal. Not complete sharing to make everyone equal, but giving teams money so that they have a real chance.
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"Final thought: I just rented Michael Moore's Bowling for Columbine. Frankly, it was the worst sports movie I've ever seen."
--Peter Schmuck, The (Baltimore) Sun
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