No, you have bits and pieces about the subject, but don't understand, the redshift that BBT sees is the same redshift but seen by SSU as just showing relative distance from Earth from the SSU pov.
Yes, I understand that this is your proposal. Now we go to the details. Is the type of red shift that your theory predicts consistent with the data? And the answer is no.
Does your theory explain the way angular sizes vary with distances? The answer is no.
For example, that JWST redshift data for those fully formed galaxies that show up in a time nearer the BB beginning where fully formed galaxies should not yet exist, whereas from the SSU pov, the redshift just shows these are the furthest galaxies from Earth we have seen.
And, again, that is a question concerning the details of galaxy formation. It clearly happens earlier than expected, but that isn't an issue with the overall BB picture. It is a lack of understanding of how galaxies form.
Also, 'fully formed' is rather misstating the point. They have more structure than we expected, and are larger than expected for that time, but they are not, by any means, modern galaxies in size or structure.