Tbh I'm not sure what your counterpoint is.
Per your scenario, currently, 4 LMGs will rip each model to pieces individually. In the change, the 4 LMGs would spread the dmg.
You would have more time to engage/retreat with models intact, than now, even against 4 LMGs.
So even in the extreme situation of 4 LMGs, the situation is improved, compared to now.
My counterpoint is that in both scenarios the 4 LMGs effectively remove the squad from combat at long range. Fewer casualties may be sustained initially but the squad looses the same amount of health in the same amount of time if dps is consistent. This means that the problematic alpha strike of LMGs is still retained since the squad still has to retreat or risk being wiped out. Hence spreading the damage might reduce initial model loss and help in small engagements but it does nothing to address how easy and effective blobbing LMGs can be. Much like snipers, the more LMGs present the more effective LMGs become.
If dps remains the same would spreading it out between the models of a squad make any difference once critical mass was attained? If a player was to load 3-4 riflemen up with M1919s and a-move them forward the riflemen would still output the same dps at long range and still force off opposing units just as quickly.
That is why I question whether any solution that doesn't address either the long range damage output or ease of use of LMGs can truly fix the situation.