This sort of arrangement was introduced in 1995 whereby divisions 1 and 2 were combined into one league. This didn't work as all that happened was that the former top division teams finished at the top and the lower at the bottom end. In fact Middlesborough dropped out altogether mid-season because they couldn't compete. Therefore I don't believe that combining the two leagues would work.
However I can visualise a situation whereby a two-league system could operate between the Premier and Conference Leagues. At present there are 10 clubs competing in the Conference League but all, but three, are 'stand-alone' clubs. Scunthorpe have already applied to join the Premier League next year. It is clear that the clubs which are not part of promotions running in higher leagues have a different agenda form those which are. Their primary aim is to win the league etc. instead of being an outlet to train youngsters and create a feed to the parent team.
The Elite League in its current format cannot support ten teams who can run at a competitive level. Oxford having to withdraw then problems experienced by Belle Vue, Ipswich and, more recently, Reading have demonstrated this. With the resources available, meaning the number of overseas riders prepared to commit themselves to a full season, our Elite League can only run to eight teams. We have been in this situation before, of course, but it doesn't provide a great deal of variety of opposition. Also, I am not sure Sty TV would be happy with this arrangement. A squad system could be considered as, I believe, that a few riders who we don't see in the UK would be prepared to ride here as long as they could restrict their meetings. I have no idea how the system works in Sweden but the top two riders in our Elite League clubs could be shared positions in some cases. For example, Ipswich could bring in both Hampel and Gollob but not both at the same time. In situations where neither was available RR would be the alternative option.
In summary I realise this is all a fudge but when we are in a situation where their are too few riders and not enough money there has to be a compromise.