I don't think that there is anything "cynical" about a manufacturer that watches there bottom line. It would be much more customer friendly if budget solutions were supported, but businesses have to strike a balance between serving customers and generating income.
Your system would not be a replacement for P-TTL, but it could be used in some scenarios were people are currently forced to use P-TTL (if they don't want to "tweak" or use light meters) and hence must be regarded as partial competition to P-TTL.
I like your idea and it would work very well with a system that supports remote power level control of flashes like the Cactus V6, but I just can't see Ricoh doing anything like this. I'd be more than happy to be proven wrong on this one.