It would still run on the hive blockchain it's just when you vote on a thread it would use the threads native token (Supported by ad revenue to give it value) and not hive. Instead hive/leo would be still article focused as it has been.
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I could be down with this type of system. I just know if we continue to spread funds between layer tokens it gets hard to get people to buy the base layers and price appreciation get more diffcult if we can't get more users on the chain.
Then LEO could be used on that front end as well so no new token needed however when voting it wouldn't use hive power vote unless you set it to. I really hate chewing through my hive power on threads.