There would be positives about this and negatives. I'm sure a lot of the ANC FF's wouldn't be too happy to have a lot more competition on the ANC-SEA route should Ma and Pa Smith now become elite based on their getaway to Hawaii and the occasional trip down to the lower 48.
I think it would be good for pretty much anyone else whose travel might be limited this year. If it requires registration, then you know it would only target those who are really interested in booking additional flights to gain the status. Sorry for rambling. It would be interesting to hear what other people think about this. I have been thinking about it once I heard the other airlines would doing it.