As somebody who had never heard of the black watch and had to go look it up, i think it sounds like it was pretty cool idea. I mean I would like to show a little improvement on defense before we start talk about doing something like that. but I think it would add a bit of that "swagger" that helps get some players going. And having something unique like that will never hurt in recruiting.
And I think it would also add some motivation. It's giving some players something to work for, rewarding players for the results, and making guys that already have it to work harder not to lose it.