I remember when a simiar thing was done with aluminum soda cans. Old soda cans the top pulled all the way off and people frequently threw them on the ground. To this day I still see old can tops on the ground. This isn't nearly as big a change since bottle tops are resealable so don't get tossed on the ground nearly as much.
Some commenters are suggesting a better option is reusable glass bottles, which I wouldn't object to, but are there resealable glass bottles? (honest question, I haven't seen them. Most of my experience with glass bottles are beer bottles with pop off or twist off caps, but cant be resealed.)