Yes it would. Encouraging people to socialize worked in the game before, assuming that it would stop working for no reason is just silly. Would people quit? Yes, just like some quit because of stuff like LFR and other overnerfed content being in the game right now.
There's no demands for nerfs now because almost everything has been nerfed into the ground. You can get from 1 to 90 without ever having to partner up with somebody for a quest, you can go into dungeons and pull a whole room, you can (as shown in a youtube video) afk through heroic 5 mans, get enough gear to get into LFR, and then AFK everything in LFR. If you played around at the start of Cata, you would've seen those demands for nerfs.