No. This is a ridiculous knee-jerk reaction to one cause of the current server congestion. Take into consideration that the only reason people are doing this in the first place is because of server congestion. So how exactly is this supposed to fix the very thing that caused it in the first place?

People already can't buy the game, and if they have it, can't make new characters. Neither of those issues will be solved by this either. FFXI has been running how long now without this feature?

More servers, better servers, etc. No wasting time and engineering effort on temporary measures that only go a tiny bit toward solving a symptom of the real problem.