Not true, at least for attacks and saves. A flat bonus can never take you above a 95% chance of success, because a natural 1 always fails. With five levels of advantage (6d20), if you have at least a 40% chance of success on the base roll, you're doing better than any flat bonus no matter how high. Also, how exactly do you plan to stack up five levels of advantage? There are a lot of sources of advantage in the game, but not so many that you can easily bring five of them to bear on a single roll.This would mean a lower bonus or penalty at single (2D20's), double (3D20's), and triple advantage (4D20's)...about equal at quadruple advantage (5d20's)...and then a higher bonus or penalty than rolling extra 6D20's or more.
Anyway, I'd guess the reason they didn't include it as a variant was that they didn't think it was a good idea. Blackwarder's experience sounds about right. While stacking advantage does obviously incur diminishing returns, the first 2-3 levels provide quite substantial benefits. With a base hit rate in the 60-70% range, which is typical, three levels of advantage is essentially a guaranteed hit. If you're using a limited resource such as an assassin's surprise-round autocrit, you'd certainly pull out all the stops trying to reach that guarantee.
If you want to do it, you can. Nothing's stopping you. The DMG is not the be-all, end-all of variant rules. It's just a list of variant rules that Wizards has vetted and approved. They don't seem to approve of this one.
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