Waste of time/effort; "Bad guys" will (if they haven't already) find a home on altcoins without a master key (if that's even possible).

On the other hand, I don't doubt for a second that eventually the authorities will begin knocking on doors.  Our hope is they run out of money (or political support) to pay for enforcement troops before they do.  Make friends with a cop and get him started on Bitcoin in order to educate them.