It's an interesting technique, whether it works or not is not going to be clear for quite some time.
I think there may be something for releasing a set of characters who are relatively broad brush them using how the community uses them and what traits are indeed upon them more organically, then writing in the story afterwards rather than dogmatically insisting that your ideas are automatically better than everyone else's.
If it works well we likely end up with large, nuanced characters that are easy for the community around the game to identify with as they have had some ownership over their development. At worst it could lead to a confusing and nonsensical timeline with a whole host of characters all too powerful and too cool with no draw backs to create tension, much like mainstream comic books actually.