Considering Exploits
If we force UTG to open wider, something like (JJ+, AQ+), then everyone else can just call one notch tighter (QQ+, AK) and profit.
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MDF
The underlying problem with this strategy, is that there's almost
no obligation to defend when you open 100x the pot. You are risking 100bb to win 1.5bb, meaning that with a
pure bluff you'd need to be successful 100/101.5 = 98.5% of the time just to break even.
That means that the rest of the field, collectively, only needs to defend 1.5% of the time. If there are 5 defenders, then they
share the burden of defense and on average each player only needs to defend 1 - 0.985^(1/5) = 0.3% of their range.
To put that another way, even if every player literally only defends AA, and folds everything else, you still couldn't profitably pure bluff. Now in reality there are strong blocker effects, which is why we saw UTG shoving with A5s earlier, but hopefully you get the point.