It's amazing what you can make people do for your wifi password. People will go to coffee shops, buy a pisswater coffee and a crusty old danish just so they can get the wifi password. It's like crack, especially for kids who have been raised on the internet. They don't even know how to play with a ball unless it had a touch screen on it. That's what makes this so genius. There's no way it wouldn't work.
The only problem here is that you have to change the wifi password every day. That's not too hard, but there are some parents who couldn't do pull this off. They are the type of parents who have to ask their kids to set up the tech in the house. Those parents are screwed. The kids will probably set up a secondary connection and never do chores for the rest of their lives.