The whole problem with the basic concept of this is that it either:
a)is obvious circumvention of the rules of the expansion draft and will not fly.
or
b)is basically just a team giving up not only a "good player" but then also losing a "worse player" in the expansion draft. Which is a double-whammy, and doubly decimates your depth, which is of no interest to any actual team, where depth is key to success these days.
The only way i could see it working...is as a 1 time thing, if one specific team has a really good player that is sure to be claimed. Like...not just a decent middle of roster piece, but a bona fide impact player somehow. And i just don't see anybody having that problem. And Vegas don't really have the picks/exempt assets to make a deal for that caliber of player anyway. So it's a moot concept.