Possibly - depending a bit on the pool, of course. However, I think the real question is whether we can just scrap a round (or possibly even two) of matches anyway: Many regular drafters seem a bit tired of the match stage as such, and the arguments/debates do have a tendency to become repetitive. If you limit said stage to fewer matches, at least in theory those matches should become more intense.
Again, though, it does depend on the pool/theme. For some drafts, it may make sense to have a full last-16 round - because there's plenty of novelty on display in the XIs. For all-time drafts, etc., however, one can consider cutting down on the rounds.