I think it is a great and novel idea. I give it an A+ for effort.
Personally, the variance is way too high for me. I also have to wonder how long it is going to take to draw enough suckers to initially salt the meters, especially on on the dollar machines. Without a royal those games are gonna bust out $5 a hand players very very quickly.
What I would prefer is this concept transferred to some good games like NSUD, 9-6, 8-5 BP, DDB, etc. with meters operating in a similar simultaneous manner.