Yes, it is a viable idea. It would be a completely website thing and it would be turned off by default, meaning that you wouldn't be able to see it on players or on yourself at all if you choose it and this would be the default option.
If you wish to see it, you can go on the website, flip the switch and then you see it on yourself and on others. It would be completely optional and basically turned off by default without adding anything custom into the game (no NPCs, or vendors or anything).
However, this is just an idea, as I mentioned when people asked about it in global channel and far from actual implementation. It is possible but whether is it something we would to put in the game or not, that's not really in any discussion right now.