I think this is genius. Who wouldn't want to pay to see AI and Randolph out there together with Gay and Mayo? I would put the chances of Marc Gasol getting punched in the face by one of his teammates if he takes more than 5 shots in a game at about 45%. That alone is worth the price of admission.
Ultimately though, I actually think there is a chance this could work out in the long-run for Memphis. First, it will help them to keep the prices of Gay and Mayo down, while also teaching them both some humility. Both of them have become complete chuckers, and I don't think it serves either of them well. I think they both could really benefit from being forced into a more complimentary role. If they can bring in a coach that will convince them that they can make a mark on this league by playing defense, and knocking down open jumpers, I think they both could eventually be championship-level 2nd or 3rd options. If they continued to just give them the ball, and let them do what they want, I think they would just become the next Gilbert Arenas and Antawn Jamison...and I don't mean that in a good way.