These two albums and Load and Reload by Metallica are probably the most analyzed in the "Make a single album" scenarios
I don't know how I would approach them, since we're talking about it, let me just say that I never experienced them in real time; they were relatively new in 1995 when I approached had rock and foreign music (started with Bon Jovi the year before and then Guns n' Roses), then I discovered heavy metal with Iron Maiden and Metallica and there was no turning back, I quickly turned my back on GnR and moved onto power metal rather than staying with hard rock (and I always liked Bon Jovi more than GnR anyway).
So for the longest time I never really cared to go back to GnR, eventually last year with so much free time due to working from home, I gave them a spin, and that was probably the first time I ever judged them with a... dunno, artistic maturity? after a full complete musical journey or whatever?
They ARE good albums, after all, annoying Axl voice aside. Maybe you lose too much if you condense them into a single album, maybe they should have released them one year apart, and with both having no longer than 12 or 10 songs. Still, it was a bold move and those records are definitively famous, and I don't know how a different approach could have made things better or worse... the songs were those ones in the end, the singles were the ones released anyway, November Rain, Don't Cry and all those longass videos made history anyway, so there was not much else to do with those records, aside the fun speculations we all like to do here