Didn't teams used to get 2 or even 3 smites commonly and just get an instant redbuff as soon as it spawned and tried to snowball levels to beat the other team? THe problem with having too many smites on a team though is if both teams get into a position where they are equal the team with smites would lose every team fight.
if there's already a smite, then that's an exception and i won't run it
but... that NEVER happens. So usually i jungle or will grab smite.