Seems to me it's six of one and half a dozen of the other... OK people might take the whole week off work, but given the track has to pay the staff/insurance etc .... is more truly more, or is more less? you really want to pack as much action as poss into 3 days, or 4 max. Over 3, it'sw dubious, over 4, sheer hell imo
Extending these "Festivals" may work financially in terms of more horses running and more badges sold, but only time will tell. Personally I think there is only so much top class racing and esp top class boozing the human frame can take, in one week. I find a two day weekend at Newbury quite exhausting, let alone three, and that's in the summer....
These big extended 'Festivals' are about corporate "do's" - see all the embryo marquees going up in improbable places at Cheltenham, on the tv last Sat? - I don't mind, as I enjoy the extended tv feast. I lay in my stores and my booze, and don't get elbowed or have to queue for the loo. The best GC day I ever spent btw was 2005 in The Pheasant near Lambourn - great atmosphere, good food and company, booze flowed, and I doubt given conditions it was better to be 'there'.
In short, I think trying to 'push the envelope' of these occasions will cause them to implode.
There is only so much room round the parade ring or winners' enc, at any course.