Your theory is a much more sensible interpretation. Also, another wrong conclusion caused by the false "expanding universe" interpretation is that "The expansion of the universe causes distant galaxies to recede from us faster than the speed of light" [wikipedia]. Indeed, if redshift was caused by the galaxies' motion (doppler effect), not only we conclude in an earth-centric accelerating universe, but also the very distant galaxies seem to go faster than the speed of light! Don't you think that this is another good reason to reject the "expanding universe" theory?
RE: Space Is Not Expanding and Why!