I think this is a terrific idea. Google’s announcement still places too much burden on the copyright holder, who now has to provide all of their content to Google for this to work. The major media companies are unlikely to be willing to ship their content over to Google for this purpose. A better approach is as you suggest-provide a more robust access to the collection and better rules of engagement for determining infringement and takedown/staydown. Failure to take this step still seems to leave Google vulnerable to ultimately losing the DMCA safe harbor they believe they are operating under, until the courts decide otherwise.