As mentioned above, your method has essentially extracted all possible consumer surplus and shifted it over to the producer. I'm not sure why this is a good thing; every consumer is purchasing at the maximum price they would be willing to pay, which means they're actually getting the minimum amount of utility out of it, while the producer is getting a huge amount of utility (all that surplus).
Furthermore, you seem to be ignoring the fact that money can be spent on more than one product. No, I am not happy as I can be if I'm charged the maximum amount for each product I purchase because that limits my overall utility as I can't purchase as large of a consumption bundle.
Finally, in your example, you say no economic value was created because those students did not get to spend the 70 pounds on the movie theatres. You're implying that the money somehow goes to waste, which is not true. More likely, they'll go purchase a substitute good (dvd rentals, student plays) and increase GDP via consumption through that.