To me it is an Apples and Oranges comparison of sorts. I only used the comparision to give some structure to the point of school size as it relates to participation.
To keep the point in perspective, wrestling is by it's very definition an individual sport first...and a team sport second. If the individual steps on the mat and does what he has worked to do, then the team outcome will follow if all are working as hard as they can as individuals. No one there to pick up the slack or lend a hand. It's just the wrestler and that six minute monster he has to tame.
If I had to give and answer to your question, I would have to say Yes - for Football I am in favor of it...althought I think it needs a total overhaul in its implimentation. But even as it stands, we see 3-A schools kicking the daylights out of 5-A schools year in and year out and 2-A schools who can play with the big schools on any given weekend. It's more about the skill sets of the teams and what they bring to the table. As I said, obviously have a larger pool of talent available to a program greatly increases the odds, but every year we see the "exceptions".
To sum this up...as weird as it sounds...do we have a "Class System" for High School Debate or Chess? Or how about Swimming/Diving orTrack and Field? I am guessing the answer is NO. Why not? Well that would be because of the following:
A. These are individual based activities that focus more on the individual performance than that of the team.
B. Not a huge source of revenue for the IHSAA or the Education System of Indiana.
I know for academic teams there are classes for their state championships.