I'm in favor of tying revenue sharing to some measure of "success", to keep owners from pocketing those funds instead of making the team better. But, one of my periodic refrains is that "success" needs to be defined carefully. It shouldn't be simply Win/Loss records, because that's a zero sum game among all the teams. Much more important to me is the health of the game, which is not zero-sum among franchises.
What if filling ballparks to near-capacity every day was one of the criteria? That's inherently good for the game, even if you have to drop the price of the bleacher seats to $5 for a few years until families get back in the habit, and even if it requires financial subsidy by the bigger teams who can charge more per ticket in their wealthier markets. The pricing of tickets at Target Field looks pretty accurately set for maximizing total revenue - but that's short-sighted, and if instead prices were lowered to entice fans to come have a good time, in conjunction with (for example) short pre-game concerts by local bands, in the long run the price of the seats will drift upward because you now have a solidly viable product and repeat customers.
I don't know how the formula should look that achieves this - special cases like sad-sack Tampa and Athletics will be nettlesome because they could lower their price to $0.01 and perhaps still not sell out - also the differences in ballparks have to be taken into account (e.g. Target Field was purposely built small to keep prices high). But I'm happy to see the Pirates owner get a nice payday at the end of each year if he just succeeds in filling his ballpark, and I begrudge him his money when he doesn't - ditto for low-attendance ballparks in Kansas City, Cincinnati, Cleveland, and yes Minneapolis.. Sure, putting a winning product on the field every now and then should be rewarded too.