You have to give them at least some benefit of the doubt.

I have my own questions yet which I haven't materialized, about the bylaws and selection criteria. But at least they are proposing a new approach.

I'd at least give them a year tryout to see in what it materializes.

At the current state of things I'm a bit in doubts about the market, and how that will change across the year. Though, it would also be interesting, as an idea, to participate in such a process as a member.