I like your idea. It makes much more sense. I'm not a fan of exhibition/All Star type games in pro sports other than in Baseball & Basketball. In those two sports you can ratchet down the intensity level and still have a great and competitive game. In Baseball you just don't allow the pitchers to throw at people, or the base runners to try and take somebody out by sliding into them. In basketball, you just forego the violent hard foul.
But, there is no way to halfway it in Hockey or Football without increasing the risk of injury. I never played much Hockey, but I can tell you that, at least in Football, the quickest way to get hurt is to give it less than 100%, all out effort at all times.
Even in Baseball, somebody always gets hurt during the World Baseball classic. I wouldn't want to be the owner on the hook for $100 Million + dollars to a guy who blows out his ACL in the World baseball Classic.
"Libenter homines id quod volunt credunt"