It all sounds fine and good until you get to the PL voting issue - as soon as you add the bit about the ‘6 long-term shareholder status’ clubs it’s hard to see it as anything other than a coup dressed up as reform.
I’d call their bluff on it - tell them to take out the bit about shareholder / special voting status and they’ve got a deal. Their reaction to that will tell you everything you need to know about how much this is really about reform and the greater good.