Oh! This sounds like such a cool initiative.

The three arms of governance as you call them are broken these days and have been for quite some time. So something new is most definitely needed and this initiative may very well be the solution.

If they really can solve the problem of spam and irrelevant ads that would be quite a major, revolutionary thing!

Thankyou for bringing this to my radar my good friend, it is incredibly interesting to me. Take great care and stay awesome Brother :D