This looks like a fairly typical engineer's solution to a complex social problem: it doesn't really solve the problem, introduces other issues / is gameable, yet unlikely to create problems for the creator.
Of course creator answers any criticism of the solution with "Well make something better". That's not the point: this is most likely net negative, at least that is the (imo well supported) opinion of critics.
If the cons outway the pros, then doing nothing is better than this.