A couple things.
1. Yes, you could do that.
2. Why not stay a night? No ax murderers. Friendly bunch of folks, many of which don't know each other well. Assuming normal late May weather, prime fishing hours are about 6:30 to 9:30 p.m. You will find a fishing partner easily, especially if you're there in the morning before everyone makes plans for the day. Prime social hours are 10 p.m. to 1 a.m, where there will be a large gathering at the pavilion, raffles, speeches, fire and food and drink. Get a tent site, or just sleep in the car, or, if you must, book a hotel room in state college.
Most will not be fishing in early mornings due to the late hours kept. Some will fish somewhere late morning through early afternoon, often smaller streams in smaller groups, stop for food and to meet up with others, then head out around 4 or 6 to set up somewhere for the evening hatches. Others won't leave camp till 2 or 4 and go straight to their evening spot, planning on nymphing a while before the hatches get going.
So if you plan on rolling out at 5 or 6, when many will be just starting, you may struggle to find partners. Not cause they won't have you. But just because you're not planning on being there when most are fishing.
But yes, you're plan would allow you to meet people.
The caveat is weather. Cool cloudy weather and high water can move hatches up to midday. Or not at all. In which case many will be nymphing or tossing streamers about during the day with less emphasis placed on evening hatches.