This seems like a really great initiative!
Hive seems to have become somewhat less engaging than it was years ago, and we really need something to make this community more "social." And perhaps something that can fill the void left when the long-running "Curation and Engagement Leagues" came to an end.
I believe engagement will help Hive attract new users. After all, who's going to join a "social" platform that's not being social?