I find the idea absolutely ludicrous myself.
There is NO way the instances of lost luggage wouldn't increase exponentially, IMO.

It's hard enough to get luggage from a plane onto a towed luggage cart; from that luggage cart to a receiving area at the arriving airport; and from that receiving area onto the correct baggage carousel.
To add a cross-town trip in there seems a recipe for disaster, especially if international travel is involved at one or both locations: serious security issues and lost luggage issues would go through the roof.