My gripe with their proposal is, if I print a research paper, then the author information is just useless for looking up a reference. There is information loss/degradation.
Listing names in alphabetical order and including a statement that all authors share equal credit ought to be sufficient, in theory. Changing centuries of practice across thousands of institutions around the globe --- nearly impossible.
A better solution would be a standard like DOI but for authorship. That should be a simple microformat that has the contributor list, role and who the primary author(s) are. Over a period of time, all citations can be migrated to that format with an authorship URL embedded.