I guess it could but I would be hesitant to do that, to be honest.
The fact of the matter is that Smackdown is now known as being Friday Night Smackdown. Perhaps not to the extent that people know Raw as “Monday Night Raw” but the tag on the name is still there for everyone to see. What I am getting at is that people know that Smackdown is shown on a Friday and that is as simple as that. Let us not forget that most people are idiots. They cannot use a TV guide to save themselves and people have probably grown into the habit of having Smackdown shown on a Friday.
That being said, I would love to see it being moved back to a Thursday night. Putting it head to head with TNA Impact would give us a read about how both companies are doing and I would very much like to see those results. Also, it means that people aren’t sitting in on a Friday night to watch Smackdown instead of going out somewhere and enjoying themselves on their weekends. Of course, that is completely personal and if people would rather watch wrestling that go out, that is their choice entirely. However, I am not one of those people.
The other thing is that no one really cares about live showings anymore. I do not know one person who does not have some sort of recording device for their TV. Unless you are really interested in ratings, then I would assume that you would rather record something and watch it in your won time. For that reason, I guess it makes it completely redundant to move it anywhere. People who want to watch the show will inevitably find a way to do so.