There are going to be a lot of nay-sayers speaking against any kind of new idea. I think they have to do that. I have been a nay-sayer before, and I have had nay-sayers do their nay-saying against ideas I support before. Inevitably the idea will pass or fail based on the idea, and the idea is a well constructed and thought out one. So I suggest people just relax and enjoy it - you are in at the beginning, so congratulations.
I tend to smile when anyone posts something like, "I think this is a great idea, but I don't think it is a great idea." The psychological warfare in online games is part of the package. Roll with the punches. When we finally get our own forums I will talk more about it - give it the attention it's due and dismiss it.
Rest easy knowing that this isn't a fly-by-night thing. People involved have been responsible for running massive guilds in games before - much bigger then this will ever be. Inevitably this is a little diversion that you are going to enjoy - so enjoy it.
I suspect that in the next team game a lot of teams will make some changes - maybe not to Total Monarchys - but lets face it, the bar has been raised, and you are part of it and you are about to become a cornerstone of it. So enjoy it.
Cheers.