That's not even a hypothesis that would cross my mind. I don't see the obvious or attractive motivation for the refs to think that way.
However, I have seen many games in cfb, and even a few in the NFL, where refs appeared to swallow whistles on 3rd or 4th consecutive offenses. Like a team will get called for holding twice in a row, it's 3rd and 30, and then they commit holding again, plain as day, and the refs don't blow the whistle. It's like they start feeling bad for piling on the team or something. Seen it with PI, holding, and false starts. Particularly if it's the same guy committing the foul.