A revenue-sharing-system is more like weebly or HubPages - they give the hosting-service while it is users offer the contents and website. In replace for the free-hosting-services, you obtain a split of the revenue from the promotion.
What you advise is not revenue-sharing as such. It just would show the users adsense-ads and the users Publisher-ID. From that I frame, you would not earn any-thing at all, only the user can.