I think it's a good idea in priciple. It will tell a writer exactly where his work stands in regard to popular taste. It will also give a current standard view of where the bar lies, both in terms of writing and performance, as well as production terms. I think the only downside may be that it maybe come a victem of it's own success, and any work put up may get lost in the noise. Another good tool for the toolkit.

cheers, niteshift