Very interesting indeed.
I would think that one thing that will potentially hinder the success of your project is the ASIC resistant part. Many bitcoineers have invested thousands (and sometimes millions) of dollars into ASICs that are currently being run and would lose out on their investments if this were to replace Bitcoin, and as a result they probably will not support this project.
Protection for a chain depends on the money that is being spent mining the POW. The hash rate or who specifically mines the chain does not matter, only that enough money is being spent to defer an attacker who would have to spend more money than the current miner set.
Yes, the current ASIC miners cannot mine this chain. That is fine. If the chain has value people will dedicate enough CPU power to the chain to support it. There is lots of idle CPU power at home and in the cloud.
This is also a user-led fork for users who feel the current Bitcoin miners are not moving fast enough to increase the block size limit.
This is an option for users who disagree with the artificial limit and which to participate on a larger block chain. I have already run tests on the main network, and the client successfully mines >1MB blocks and clears the mempool faster than Core....