No, it would make the federal government the public chartering authority of large corps, which was a role states have had and used to take more seriously than they do now.
> It's too radical and won't go anywhere, even with Democrats
It's true that the neoliberal wing of the party that has been dominant since the early 1990s won't like to much, but the neoliberal wing recently has seen a number of incumbent office holders go down to primary challengers from the progressive wing. The neoliberal wing’s support in the Democratic electorate isn't nearly as strong as their current strength in office would suggest, and some of them are no doubt starting to realize that.
> It reads like establishing progressive bona fides.
Whatever else it is, it's definitely part of both setting g the ground for platform debates and establishing personal position leading in to 2020.