Let's Plays for Pokemon games can be difficult to pull off, because everyone does one. So you have to make sure you know for sure how to set yours apart from every other Pokemon LP out there. Either you have to have a different playing style than the norm, or your commentary has to be interesting.
What do you mean by community driven? Will people pick your team? Will you start off with just a test video, showing how your LP will run and then let people decide everything? (Plenty of LPers do this on another forum.)
Just saying that you'll LP Red isn't enough to gauge interest from potential viewers. You should let us know what you'll offer that's different from the other people LPing a Generation 1 Pokemon game.