FYI, there was a discussion thread posted last week called
New Summer Format on this topic.
I posted my thoughts there and won't repeat them except to say that I am
slightly less skeptical about it after reading more and thinking about it than I was right off the bat.
I still question how "the best" teams are selected, how this league won't inevitably force teams to choose between it and their traditional leagues / tournaments.
That said, TRhit said it best: time will tell. They'll either work out all the kinks and be less political and more complementary to existing leagues and programs, or they won't. Teams and coaches will either embrace the concept, or they won't. There will be a tipping point for these things; I'm just not smart enough or experienced enough to figure out where that might be.