I think it could be really great as long as we can get enough people involved. It should also be a great way to bring the community together and to gain followers/find people to follow through reading the submissions.
Such as how your paragraph just earned you a new follower- me.
I definitely think it is a good idea. Things like this that have an easy entry point are good at attracting people which as you say can then be seen, noticed and followed! You too have a new follower!