Firstly, I assume that players would rather play than train. NBA players would do it - right now, teams are playing three days straight and previously they'd have stretches of four games in five days.
So, it might be possible to get players paid the same amount as they are now.
The issues I see are the venue hire costs and the season ticket cost that fans are likely to pay. Fans would only support a certain number of games too - after a while of two games a week, people would get sick of it.
In another thread I suggested this is dealt with by teams playing regional games. e.g., the 36ers would play 15-18 games under a standard season ticket in Adelaide, and then a spread of other games in Whyalla, Mount Gambier and so on. The Kings could play in regional NSW or even Canberra. The Breakers outside of Auckland. Not sure how this would work for smaller teams like Wollongong or the FNQ teams.
Issue then is that TV is not going to support those games, and would you even get a decent return after travel costs and set up hassle?
I can't see it bringing in more expensive players and I don't think it would provide more opportunities for young players unless the regional games forced the use of U23 players or something like that.
Best bet at the moment to create those opportunities would be more teams: more salary cap money to spend, players spread more thinly, and more use of younger prospects. If you add 2-3 teams, a bench player at a current team could be a starter elsewhere.