I could essentially write a white paper on why this is a dumb idea, so the short version is that this is only going to eliminate exploiting players that are logged in at the time of the mass-logout. Within an hour or two, new players will funnel in an take their place, and you're back to square one. Unless you're doing this every two hours or so, it's not even a band-aid of a fix. It's just a random outage for virtually no benefit compared to the outages it creates.

Also, I'd hate to be the guy on Balmung who waits two hours to get in, gets randomly logged out 20 minutes later, then has to wait two hours to get back in because everyone is funneling back into the server.