Decades ago the Emmys eliminated the nominations process for one year and simply identified winners that were selected 'somehow' (blue ribbon panel???). It made for a very boring show, particularly given that some of the biggest winners were not in attendance, e.g., Kathering Hepburn and Lawrence Olivier and I even think Alfred Lunt and Lynne Fontanne (but that could also have been from another program). On the other hand, people who were deemed award worthy were rewarded. I think something like that should be done.
I certainly think the following would be at least nominees, possibly serious contenders (and often a winner) in many seasons:
Moulin Rouge: Musical, director, choreographer, sets, costumes, lighting, sound
Slave Play: Play, director, multiple featured performances, in particular Paul Alexander Nolan and the woman who played his wife, who was magnificent and whose name I do not know by heart yet
The Sound Inside: play, director, actress, featured actor
Tina: Lead Actress
The Inheritance: (I did not see this one, but just based on what I have read: Play, director, multiple featured performances
Random (whether you liked the play or not): Jane Alexander and Eileen Atkins
Girl From the North Country: Musical, direction, book, best Featured Actress (specifically, Mare Winningham)
And, there are clearly others:the 1st majority of the WSS reviews were raves, whether the Times liked it or not,
I say setup a panel to actually hand out awards for excellence. Maybe identify a group of X candidates that cover all categories (maybe some categories would not have a single nominee, while others might be full, even in a short season). Have the show itself identify those recognized for excellence (sort of the nominees), single out a subset for actual Tony's. Have the show be 90% GREAT ENTERTAINMENT, with the best numbers from many musicals, including those that have been open for years. Consider:
-- Lion King: the opening number (even a second time, no one will be disappointed)
-- Chicago: All That Jazz or Nowadays / Hot Honey Rag or I Simply Cannot Do it Alone
-- Company (Assuming it is open): The Ladies Who Lunch or Not Getting Married Today
-- Tina: Whatever THE BEST number is, per audience reaction
-- Moulin Rouge: Bad Romance or the opening number
-- West Side Story: pick a number to which the audience reacts most strongly
and etc.
-- Considering doing a scene from TKAM that can convey the power of the show, although in only 5 - 6 minutes (if that is possible).
I think it could be a show with better than average entertainment value (because every number can be great) and with winners who would actually deserve serious consideration in any year.
PS -- The only shows eligible would have to have been opened; perhaps, previewing shows that were seen by most members of the selection committee could possibly be considered.