What would happen if you had a hat with velcro on the logo - so you could change it depending on your mood? A natural disaster would happen, that's what would happen.
An interesting idea appears to be poorly executed. I get the idea of the "fashion" caps, but I am typically not a fan of fashion caps in these weird colors. I get camo, the American flag logo, all black, or throwback - but changing up the colors just for the heck of it is kind of confusing to me. Changing the logos to go with it? Recipe for epic sports fashion disaster.
I also understand why New Era wouldn't want to do something like this for on the field alternate caps - because doing so would probably result in fewer cap sales. Count on this trend to die a speedy death.