Great post, as a wrestler turned judoka turned BJJer I'd love to see a competition style that rewards all aspects of grappling.
The closest to that is basically Sambo. Sambo is really what current No-Gi BJJ should be, just without the Gi and striking. Even without striking, Sambo is still the closest of all combat sports to real MMA. Its why all the sambo based MMA fighters like Fedor, Islam, Khabib, and the rest of Khabib's team had such dominant success in MMA, because its basically everything you need for functional "real" fighting. It has upper body throws (judo/greco), lower body takedowns (wrestling), and some basic ground work and leg locks (BJJ).
The one thing I hate about BJJ is how the Gracie's skewed the original BJJ competition ruleset towards the ground game over takedowns. When you look back at the history of the Gracie's, they originated from Judo. But they didn't actually master a lot of the traditional Judo throws as they only had about 2 years of actual Judo training. So once they started doing their Gracie/Vale Tudo challenges in Brazil, they had a ton of success against most people...until they went against established Judokas with good takedowns. Whenever they went against a Judoka like Kimura or the Ono Brothers, they had trouble or got destroyed. After that, they basically dis-incentivized or removed takedowns across all of BJJ. But my point is, the throws were there and all laid out for the Gracie's to learn from Judo. But instead of learning how to do takedowns, they just changed the ruleset to favor the guard. They gamed the system instead of learning from it. The lack of takedowns and ruleset is still BJJ's biggest weakness today.
Competitive BJJ has gotten so far away from "real fighting" that I laugh whenever a major BJJ player says they have a "fight" coming up. I'm a purple belt, so I like and respect the technical aspects of BJJ. But I'm also a wrestler and judoka and realize that in a real fight, you mostly just need some good takedowns, ground control, and basic guard passing. You'd never need most of the De la riva/spider/X/Y/Z guards, leg locks, and most of the other stuff off your back in an actual fight. Watch any MMA fight and you're going to see very, VERY basic guard passing and ground work. Its the same in wrestling, judo, and sambo. The matches and fast, dynamic, athletic, and over with quickly. That's how an actual fight is. Not artificially giving your opponent time to work on grips or guards from bottom while you slowly try to find a way to pass.
With no strikes in BJJ, it just incentivizes guard pulling and buttscooting. I know people will just say "Aljo, just learn how to pass guard", but once you're in the Purple, Brown, Black belt ranks, everyone has good guards and its a lot of effort to pass as the top guy, but no rewards if you don't. Without strikes, it artificially gives the person on bottom more moves and time then they'd actually get in MMA or a real fight. Despite the fact that if this was MMA or a street fight, the top player would have all the advantages of gravity, punches, and the ground (grass, rocks, asphalt, etc.) So why would someone want to willingly go into a guard and have to do extra work when realistically, they could put less effort into a takedown and end up in side control? Or at worst, they end up in guard/half guard anyways? A black belt in Judo or an NCAA wrestler can easily pass a black belt in BJJ's guard off of a takedown. So why would they be incentivized to go into a guard and have to work much harder to pass? Like I said, there is no incentive and the only people who idolize this mentality are mostly bottom BJJ players. But it dilutes the original self defense intent of BJJ.
IMO, the ruleset across all BJJ should be that if you pull guard or go to your back, you lose two points. Its the closest way to simulate a takedown in a real fight without completely changing the ruleset to Judo or Wrestling, or giving judoka/wrestlers a huge advantage.