A wipe isn't going to fix gameplay. It's just going to reset the marathon and yes it will cause lots of people to leave after losing their progress on breeding.
Mind you, I strongly disagree with breeding being that time consuming. Everyone should have a reason to dip their toes into breeding and have little baby dinos running around. I think all dino should have a reason to raise them. I dont like the way stats work with levels. Would there be any point to raising a baby phiomia? I think it should have a purpose in-game, in order to leverage that part of the game. Also it really doesnt make sense players need to manually feed a baby Hyenadon. Why can't the mother feed her own pups? Also why doesn't she, and certain other dinos, have litters?
Anyways, what needs to happen is the game needs to be focused into more players-online between tribes. That's what you're really asking for here, you want fair competition with people at your level. If you had that resets wouldn't be required.
Yes it's a problem that alpha tribes get rich and stay rich. After 5 years, having 100,000,000 C4 back at your base is in fact boring. But the solution is not to wipe. The solution is to make PVP engaging. If that happens, which is what this server wipe is actually angling for, then it doesn't matter how much C4 you have.