Hussar
Legend
As I said above, encounter design is important in my view and this seems like an issue of encounter design that is being corrected with a demonstrably slower initiative system. I'd fix it on the encounter design end personally rather than slow down the game. I'd also expect the players to make more use of spare the dying in such a setup, and would imagine I'd see more grave clerics to deal with NPCs/monsters attacking dying PCs.
Yeah, I don't think we're going to agree on this. Because, I'm still designing encounters as per the DMG, or, hey, using WotC modules (running Ghost of Saltmarsh currently) and I know right now that if I ran initiative this way, I'd be killing PC's far too often. It's far too powerful on the monster side to group all the baddies together like that. At least, it is if you run monsters with even a modicum of tactical acumen.
And, if the solution to running initiative by the book is to force players to play certain classes, then, well, those rules are flat out bad.