Initially it would be a vehicle for speculation, but that's not the end of the world. Primarily it would be an experiment to see how far one can take the idea of a rising peg to dollars.
Sorry, but your idea won't work. Essentially, you're proposing a provably fair pump operation. That's impossible to pull off unless you and your cohorts have enough fiat to pull off the pump. And even then, how could you enforce each person's contribution to the pump?
There's only one feasible way you could conduct your experiment: create one alt, premine it 100%, and keep the entire supply. Then, throw together an exchange whose reference currency is that premined alt. And then, create & premine one or more other alts and distribute each by whatever giveaway plan you think best. (You might try a different giveaway framework for each.) And then, execute your pump plan by buying and selling each of the newer alts in terms of the original reference alt - the alt whose supply you control 100% at the outset.
No other way to do it on an experimental basis: only this framework guarantees that you won't run out of pump resources. And to be honest, it sounds like an experiment a professor of economics or finance would set up for his/her students.
