Sounds like a terrible concept. And there are some naive and simply wrong assumptions made here.
Like this one HTML5 games can always be copied or accessed easily or this one If 20 small indie developers each have 20 followers, that’s suddenly 400 people instead of isolated audiences.
No, they cannot. You cannot simply download a web game and have it run locally. Oh, a motivated user might be able to, but that is not simple.
And why would 380 users suddenly have an interest to check out 19 new developers? Just because the developer they did follow shares the same distribution method? By that logic, the thousands of developers on Itch should each have at least thousands of followers.
The idea is to give HTML5 games the feel of a console experience
The console experience is not opening files in an app. It is visiting a platform. And have ease of installation and game management. Seriously. You mean a video game console with console, do you not? When was the last time you downloaded a file and played it on a console? A sideloaded file, mind you. You would need a closed system with approval and curation to have the console experience. What you propose is not a console experience. It is more like distribution of .jar files. And that never took off.
Itch does a mediocre job with game management and ease of installation, but degrading browser games to a playable file you need an interpretor for, is a step back, not forward. The appeal of a web game is, that you do not need to "install" a file. You just visit the page with your browser.
If a developer want's to have a downloadable version of the game, that is already possible in several ways. Including the blunt way of bundling a browser for a paid game. Or simply distributing a playable html file or folder structure. But since a lot of web game are just exports of game engines, the obvious way is to export it natively.
The aspect of protecting the code is just not relevant. A motivated rival developer will have the skills to get the code or just mimick the game either way. But it will bring in zero new players. Players do not want to play a game, just because the code is protected. It's the same fallacy any drm mechanism has. But some players will shy away from games that have protection abstraction layers. Jumping through additional hoops to just play a casual web game? Not interested.
Also, your twix account is blocked and you operate over a gmail account. That does not bode well.