That could be easily exploited to avoid losing Glory.
I think maybe they should leave Competitive as it is (for teams) and create a new Competitive Rumble playlist (with solo-queuing only), where both of these playlists contribute to Glory.
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Just make it so losing glory isn't a thing just like valor. Problem solved. You go up with wins and go no where with losses. 5500 will still be a ridiculous grind that not very many people will achieve. Who will this hurt? No one. Well besides elitists but who cares about them.
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competitive rumble would definitely solve the issue - no one to blame then but yourself :)