Indeed, it saves the trouble of ANet setting up their own auction house. But, really, I don't see this doing a lot of anything. The only thing I can see coming out of this is people being more aware about auction sites where they can legitimately sell GW items for GW gold.
If ANet wants to half-ass the Auction House idea, what you've suggested is what they'll do.
But I doubt that they'll earn many brownie points with players if they half-ass anything, so the only actions I see them taking would be to make the auction system themselves and built into the game, or no action at all.
The concept isn't bad, but it's no great improvement to the Guru Auctions in my mind. Guru Auctions isn't perfect, but it still allows you to buy or sell pretty much everything you need fairly easily.
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