Sound cause, but the business model needs some work. Any governing body can benefit from a third party that holds it accountable for appropriate behavior. We have implementations of that in the private and academic sectors, all with their own versions.
As written, the solution stated is insufficient to fulfill the original objective. It may be that there is too much required infrastructure, time, and money to manage such an organization on a permanent basis right now, but that doesn’t mean some variation of the entity should not permanently exist ever. Get the facts, do the research, create the business model, and execute with finesse.