If done in the manner of the WWII and WWI arenas, what would stop it from simply being almost all F-86Es, or if those were perked, almost all MiG-15s? It seems to me that done in the fashion where any unit can be picked by any side it would pretty much be a United States military hardware fratricide.
If done in a UN vs Communist forces style, it seems to me that it would start as 400 UN players against 10-50 Communist players and devolve into 10 UN players searching in vain for the 0-1 Communist player.
None of that sounds like good gameplay to me.