There are arguments on both sides. Perhaps widening corporate ownership will increase efficiency and social responsibility. Perhaps this is a time consuming distraction which will be met with disinterest.
Experiences so far would suggest that broadening corporate ownership is seen as desirable. If its benefits can outweigh its costs it is also sustainable. However, it certainly doesn’t replace the fundamental product and sales skills required to build a business.
A helpful comparison is perhaps a share options scheme extended beyond the core team. Options are anecdotally seen as being undervalued by business owners. However, where one group values something differently to another this is usually the sign of information asymmetry.
It is perhaps the lack of business information provided to options holders which causes them to be undervalued. Therefore this system attempts to solve that problem by making an enshrined effort to actively manage and promote the scheme through increased business transparency.
The hypothesis here is that the cost of disseminating information is decreasing and the benefits of doing so are increasing. So, whether or not this specific approach will work, finding low risk ways of involving more people in your business is likely to become more and more worthwhile.