I was involved in something like this years ago and it was a better experience.
People who wanted to be there went, less cliques and more financially savvy. Plus it wasn't as much of a time committment.
We will see if anything comes of it. People do a lot of talk, but it's super hard to maintain relationships outside of our normal lives. I also have learned the burden for planning often falls on one person and it can take years even to have any success with these things.