I think the effects are unknown. It sure sounds good. If you get a scholarship. I think initially (first four years of implementing), there will be less scholarships available as the roster will have "guaranteed scholarship misses" at the end of the bench, and more walk-ons playing. Smart schools will hold scholarships close to the vest, give out less of a percent until they get the kid on campus for a season to really get a good look at his make up.
I think it is a bad idea.
Imagine, you just woke up from a nightmare. Your son wants a scholarship to Big State U. It's been Ruben Amaro that been passing out scholarships for the past four years.