Except it fails for the same reason that all ideas about what the pro tour should be fail. It blatantly ignores the real world realities that have been discussed here and on the PDGA boards before that and in face to face conversations before that, that have been going on for thirty years, and just replaces it with some pie in the sky vision, but no practical plan of how we're going to get there from our current situation.
Theres no plan i think mostly because of complacency in the pdga. The sport is booming and nobody benefits monetarily aside from a handful of manufacturers and the pdga.
It benefits the pdga to not change from what its doing because they need the AM money since Ams far outweigh pro's, in both membership due revenue and tourney attendance.
So ideally what needs to happen for the two entities to be necessary is another revenue stream for the professional entity. However it happens is not super important, but the easiest way would be for a large company or two to throw money at a larger tour and supplement a bigger prize pool.
This would allow for people to actually make a living after expenses. That in turn would churn out a whole new batch of young and marketable competitors, with their own images and rivalries and whatnot (similar to extreme sports, nascar, and traditional golf) . Hopefully this would further the sports marketability.
More outside money might mean better coverage of events, which would only help, however its very expensive and for the most part cost prohibitive even at the upper levels of coverage we have now, which is mediocre in my mind (no offense any filmers out there, but you cant argue with more money=better coverage)
The blue print is there, there are two problems that wont go away without help,
Nobody that plays disc golf, can sustain a reasonable lifestyle solely from playing and winning.
And 2, nobody has taken the steps yet. We dont even know how far it could go. So, while i share some of your skepticism, i do not share the opinion that because its been only talked/dreamt about to this point, that it wont ever happen or isnt a reasonable goal