Yes, indeed.
"cosmological redshift CAN be interpreted as atomic frequencies
increasing by the scale factor as the Universe" evolves (NOT expanding).
Your statement correspond the interpretation that the 'space is not expanding' but instead the ruler (always made of atoms) shrink as time goes by, giving an apparent increase of the space. Space expansion is an observational fact and Matter-shrinking (evanescence of matter) is the cause. Naturally this fact can not be detected in the lab but looking for 'old' atoms far away we see that they have bigger dimensions (length, mass and time unit) than the ones that surround us. For the same atomic process the actual/local emited wavelength is shorter, blue-shifted, in relation to the past emission.
This novel model was NEVER discussed (Nobody has presented an argument against this view)
it was first presented here:
A relativistic time variation of matter/space fits both local and cosmic data (arxiv)
and a complete formal presentation was done here (with my modest contribution):
A self-similar model of the Universe unveils the nature of dark energy (pdf).
Until now the general equations of physics are only expressed in terms of 'Atomic Units', based in local atomic properties. In that paper we learn how to express them in terms of 'Comoving coordinates', were the observer is above the restrictions of beeing attached to the ruler, that make us blind to any matter properties variation.
Changing the perspective is somehow a question of 'relativity' (not the motion one). In the matter/space relationship I chose to analyse from the 'space' perspective instead of the 'matter' one. Some surprises: The Dark Energy (to accelerate expansion), the Cosmological Constant (to nullify the expected gravitational contraction of the universe), the Inflation phase (to make it homogeneous) are artifacts of BBT theory. Simply they are not needed. If the 'Occan Razor' can be used, and should be, we must choose this new approach.
Once more I expect to be downvoted and I will not expect to see a single argument against the theory. The BBT is a dogma because everybody already knows that is is true that space is expanding. To a formal theoric paper it is expectable that someone, sometime, will take the time to read it.