It isn't so much about the actual physics, as it is about the argument put forth contradicts itself.
Gravity is described as a contraction of space because the mass points used as measurement draw together.
The argument for redshift being due to the actual, physical recession of the source is basic doppler effect. For example, if the train moving away has a lower pitched whistle, it isn't because space is being stretched, but because the distance is increasing. Space that was in front of the train is now behind the train, as it moves through space. This effect wouldn't be detectable if space was actually being stretched, because the reference is increasing as well. The railroad tracks, the air, the light would all be stretching.
So lets accept space is what you measure, but the problem here is that light doesn't remain a point when it is released, it expands like gas to fill the space and so space, as measured by light, expands, just as space, as measured by mass, contracts.
So we have these galaxies that are gravitational vortices, drawing mass into them, as well as the measurements defined by this mass. They then radiate out enormous amounts f light, radiation and other forms of cosmic rays, that can travel as far as at least 12 billion lightyears on the visible spectrum, possibly much further on the infrared. So what we have are these cycles of expanding radiation and contracting mass. The reason they balance out is because they are two sides of the same cycle.
Since the light eventually contracts back down into mass, the "dark matter" is actually the contraction due to the light effectively "gluing" everything together. Remember the reason for proposing it is because the whole galaxy spins relatively evenly across the whole diameter, when it would seem the center has much more mass and would therefore spin faster, so what is needed is some attractive force holding it together, most likely electrostatic in nature, the "light" as glue. Your "unseen wave functions."