The revenue that would be shared is the difference between what the Giants or Cowboys make selling their own tickets, concessions, parking, and earning at the gate and what the Jaguars do. It would hurt smaller market teams a bit, but all it would do is make more money for the owners of the wealthy teams and increase the value of those franchises. The NFL's TV money is all National so it's not like Baseball where the local TV money has a huge effect.
It would put some strain on a few smaller markets, but so long as they kept a cap, than it would still keep the league competitive. Hell even if they scrapped the cap, put a limit on guaranteed money for draft picks and made free agency 6 years instead of the current 4, it probably helps the small market teams be more competitive even without the revenue sharing.
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"Some guys like old balls"
Patriots QB Tom Brady
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