I think it's important to have core technical decisions made up front,
before a group is gathered; there are things fundamental enough that they
can't be decided by committee.

I think it's equally important to have core business decisions made up
front, because there are aspects of the business side that are also
fundamental enough that they can't be decided by committee:

Will participants be paid, during the course of the project, market rates,
or enough to get by on, or minimal subsistence, or nothing?

Will there be further payment coming later, and if so in what form (stock
options etc?) and how much?

Where will the money come from? What will the product do that people will
pay for it? How will it be the case that they can't get what they want
without paying for this product?

How much money is likely to come in? What sort of order of magnitude of
market numbers and amount each customer will be willing and able to pay are
we looking at?

Etc. This is not a criticism of your suggestion - for all I know, maybe you
have answers to these lined up already - but a note of some things that need
to be clarified.

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