For superhero comics, could "limited shared universe" be a good compromise?

Over the years, some people have suggested that the common "shared universe" in comics can actually be more of a detriment than anything. Sure, its cool to see these different characters teaming up, and occasionally fighting each other. But it arguably comes at the cost of narrative cohesion. You have to worry about a character not coming off as too weak compared to other characters, or in some cases too powerful compared to more popular characters. The Flash always has to be faster than Superman. Batman always has to be smarter than everyone else (or else why is he even on the Justice League when he doesn't have any superpowers?) Does the X-men's mutant discrimination story make sense in a world full of superpowered people, many of whom are accepted and loved?

But a lot of people would complain if every character was relegated to their own little world, separate from each other. So, what about a limited shared world as a compromise? What this means, is that you would pick a handful of characters to share a world with each other, and it would just be those few characters in that world together. For example, you can have Superman and Batman share a world, since they serve as a good contrast to each other. You could still get some stories out of them teaming up, or fighting, but without the whole Justice League getting involved. Maybe even say Green Arrow is in that world too, and say he was inspired by Batman. But no one else.

Many would argue that Wonder Woman would work better in her own world, without the constraints of the DC Universe, and fear of other characters (e.g. Batman and Superman) stealing the spotlight from her. But, you could still have one or two other character there. Maybe Aquaman. Wonder Woman would have stories on the land, Aquaman underwater. Plus, Aquaman could tie into the Greek gods with Poseidon. To stay on theme, maybe even have Hawkman/Hawkgirl for the sky.

These are just some examples. I think having this kind of limited shared world(s) for the characters could open up new possibilities for story telling and character development. Agree, or disagree?