arrogant, as in: do you really believe that your project is so different that one of the existing approved licenses will not do? (addressed to the hypothetical project with such a license)
i mean, i am with bruce perens who believes that we need to rethink licenses completely to address many problems that have come up recently: https://news.ycombinator.com/item?id=38783500 and i guess this article does hints at some of the problems that need to be addressed. but coming up with a license that is in the spirit of FOSS and yet solves some of these problems is a non-trivial task that i do not believe an average developer or company is capable of by themselves, therefore it is very unlikely that your non-approved license is really worth it.
by all means please participate in the process of developing a new license, but do not actually use such a non-approved license until there is a broader consensus that this new license actually is worth it. otherwise it's just making things complicated for no good reason.