It would be a fun way to play waves. Instead of deciding which one is the best, you would have to decide which one will give you the least negative effects. Some examples are:
Adrenaline: Speeds up time when you kill an enemy
Insulation: Makes the death zone start rising slowly
Fatigue: Makes the enemies move faster
Size matters: Makes your swords shorter
Efficiency: Halves all ammo/durability
Spider Storage: Subtracts 1 life from your total
Positive Encouragement: Random chance to kill you on the start of the wave
Aerodynamics: Makes you move slower in the air
Floaty: Increases your gravity
Beeplomacy: Spawns enemy wasps
Portal Interference: Makes the enemies spawn faster
Supply Chain: Slows down the weapon spawn rate
Vacuum: Makes your recall weaker
Selective Blindness: Makes it harder to knock enemies into the death zone
Nothing: Gives you a random negative effect