I certainly get the concept, and if there were 20 of us, that would make sense. As you say, it's pointless at the moment though. There's six of us that have contributed anything thus far (me, Lork, you, Forrest, Six, and AJ). Of that number, four are GMs, leaving two players. Right now, the system is useless and inefficient and would appear to be a big part of what killed this the first time around.
Leave it in place, sure, but I think we should just ignore it for now unless you guys manage to pull more people in.