I think this really has the basis of a great idea.

As a close follower of Ethereum, although I agree that that team have done us all a great service in outlining the potential that exists in that wide space of Crypto 2.0 - I have increasing doubts about the way they are going about realizing their vision. I was at a couple of Ethereum meetups in London recently which just gave me the impression that despite their great ideas they as a team are disorganized and indecisive (eg they keep on moving their IPO goalposts).

The idea mooted here seems far more solid and reality-based in its real-world implementation, ie making use of the solidity of the BTC blockchain rather than on an altchain with all of the security (51% attacks etc) issues associated with any new initiative.

Crypto will succeed if we all get behind a tested blockchain rather than dilute our energy with a myriad of altchains most of which will go nowhere.

This idea as well as the Sidechain idea of Beck & Hill seem the best way to go for now as they focus energy on the stablest of the blockchains where the future lies.