This is a horrible idea but as a supporter of science crimes I am keen to see where it goes.

From what I have seen over years of attempts like this is that responding to what your players want is not necessarily bad but interacting with them usually is. Gamers should not believe that they can influence the final game at all, even if their feedback is being noted by developers.

formalize the community decision -making in video games

While a weird idea that’s fundamentally flawed with sharebrain thinking, I still think it’s kinda neat and so long as we have capitalism, any means of forcing your company to listen to consumers seems like a vaguely positive thing. I’d argue the real success or failure of this idea will be in the execution.