This is a good idea. Now, companies will be force to fulfill their end of the deal. I hope this new ICO will also lessen scam ICO's.
I don't like it because about voting, this will require a constant project following from ALL participants. Which is close to impossible. I prefer to invest and check the project in few months how's doing. Not to waste my time on every step.
If you are an investor, I think it pays that you regularly check the progress of the project. That will ensure that you will not lose your money or it is well spent.
I have current investments in over 50 ICO's, chosen by the same criteria.
Yes, some of them will fail, but most will return more than enough to cover the fallen one /or even the scams/. I prefer to invest and collect /check the results/ in few months, while in mean time I'm making another investments and so on.
With my average 0.8ETH investment per ICO, checking it or not, I'm not making any difference. I prefer to use my time on other stuff than constantly checking 50+ projects and voting on daily basis. 2017 proved me that this is working more than fine with XXXX% ROI.