Names might change, but people don't. If someone has such a bad rep that they need to change their name, the community will find it out pretty quickly. Hell, they already do that even if they jump servers where nobody knows them.

I like the idea for people that may have gotten shafted by server mergers in the past, or are just tired of their old name and want something fresh.

That and it's more income for SE to spend on something other than FFXI content.