Interesting take - breaking the 4th wall and making the viewers the dreamer could be deemed a cop-out by many fans though
No this is not telling everyone that Twin Peaks does not exists and it was all a dream, this is telling everyone that twin peaks exists, and exists because we dream it to be - There is a difference.
I get it - but if we are the dreamers - I still think, although would be a new take on an old-fashioned television trope - I would be disappointed (just me personally, that's not speaking for anyone else)
Here is a snippet from an article over at www.25yearslater.com which seems to support your theory and is making me think twice now:
I think Audrey's Dance is a homage to the Dance of the Seven Veils.... reference to Lynch's favorite movie Sunset Boulevard and the storyline of Norma Desmond wanting her comeback movie to be Salome who does the Dance of the Seven Veils.