Idk, it looks good on paper, but I don't know how well it would work here. The thing is, it would be hard to regulate. Like how often people battle/who people battle...that kind of stuff. If it was going to work, it would have already been done.
The premier battlers here mostly stick to tournaments. That's where you get the most recognition. Other than that, people just battle around for fun. The competition is good enough where people know who the great battlers are without a leader board.