Is it just promotion/relegation itself or the fact it is done in a meaningless way (where there's so often been a work around to keep guys in LIV who should have been cut loose)? I don't see what the problem with promotion/relegation would be on the face of it if conducted properly and transparently - the accepted tours largely work in essence off the same principal.
As we all know, there's already various tours with small fields/only three rounds that get OWGR points e.g. the Clutch Pro Tour in Europe (albeit a very small number of points but those are cherished and deserved by the guys working their way up on that/those tours) and also arbitrary invitational events with no cuts, e.g. Genesis.
Given the no cuts thing is however the major sticking point, LIV really should be able to find a way with this e.g. have a cut and let the others play the final round solely for the team format but not counting towards the individual places. This feels no less contrived than the above examples or e.g. how the Tour Championship was run for years, with a comically artificial leaderboard that then needed to be translated back to reality for OWGR purposes.
The team format, although very distracting to an individual event wanting OWGR points, should not be an impediment - there's plenty of Pro-Ams etc. around the world that are still eligible for OWGR points, which in my opinion entail the same issues but which are accepted.