It's not really rethinking the way we look at 1 bitcoin, but rather to revaluate bitcoin altogether. I think this would be a good idea, if it could be implemented. Even though it might seem like we are inflating the bitcoin currency base, and i'm sure that a lot of critics will try to argue this if this idea was ever going to go mainstream, the fact is that this is just a simple revaluation of bitcoin. It's no different from saying that 1 BTC is equal to 1000 mBTC, except now the mBTC is the default value.
It's extremely hard to deal with all the decimal points in bitcoin especially if you are not experienced. I have set all my wallets to bits(uBTC) and mBTC where bits aren't accepted as a value. It's purely mental, but it could make a difference. 1 BTC sounds like a small amount, but really, it's a huge amount for most of us here.
I strongly support this view
Decimals are hard to deal with, this is what I've been telling myself a few times. But the "denomination reform" you are talking about right now doesn't make a lot of sense due to insane fees. Ironically, just like 1000 new bitcoins equal to 1 old bitcoins would make Bitcoin look somewhat "cheaper" (this is purely nominal but still), the fees, on the contrary, would look "dearer". Say, today you pay like 0.001 BTC per transaction (which seems like not a big deal, at least, purely psychologically) but tomorrow you will have to pay a whole bitcoin (in denominated bitcoins)
