I've never liked the concept of fouling out at all. I think a different penalty should be levied if either a player or team (more so than already exists) fouls too much.
I don't think it makes a more fun game to have players, especially stars, play fewer minutes. I also think it gives refereeing an outsize importance--I don't think referees explicitly favor some teams over others, but they're capable of making errors or unintentionally favoring a team over the course of a given game. While that would still hurt a team, it would have less impact if it didn't potentially mean the loss of one of your best players.
Not that I think this is going to change, but I don't think the concept of fouling out is a good one.
Also the refs sometimes bend over backwards NOT to foul-out a star so he gets away with some. I still like the rule though - puts an upper limit on nonsense situational fouling.
