Another way to look at it is that the BBL, IPL, and CPL all have the same players playing in the same, or very similar, number of times so why not have a worldwide T20 roadshow?
You could have 8 teams made up of the worlds top players travelling the world like a circus playing a separate competition in Australia, India, West Indies and England. They could also include NZ, SA and anywhere else that hosts a T20 bash so that no-one is left out.
When the same international players are being recruited to play in each country it ceases to be a domestic competition to an extent anyway.