If your need for granularity extends beyond the “Skip system files” option, a script could dynamically populate the plist for you. Finding out whether or not Time Machine supported any sort of list inversion functionality would require either an inside connection to the people who wrote it or disassembly–don’t know if anyone’s found anything like that yet.
There are other cheap-to-free backup solutions that would allow you to do this, they just don’t come with any choppy space animations.
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