Would it work sure you can make anything work, is it feasible no. 16 is a perfect number for a bracket no byes needed (just like 8). You say you want to give better teams a bye so week 1 top 8 get a bye and you have the following matchups 9-16, 10-15, 11-14, 12-13. After week 1 now you have 12 teams not perfect for a bracket so you need byes in week 2, teams 1-4 would have another by as teams 5-8 play winners from week 1. After week 2 you would then have 8 teams perfect for a bracket everyone plays but it will have been 3 weeks since teams 1-4 have played.