It sounds interesting, since there's a timer on /intro (to tp players out since they're warped out after the chat ends) the question over whether a 30 second timer could be created is proven as plausible. Furthermore the idea has room for randomization so the game doesn't end up with a specific trek towards a large amount of blocks (knowing where blocks are if they weren't randomized, etc.) Furthermore, benefits via buying better pickaxes via points from PvP could be used which would be similar to player upgrades. Plus having one player at a time isn't an issue, since it could be done in a pack of players so long as PvP wasn't feasible in the area (so it doesn't get clogged like the snowman game can.) However, it may be difficult to create the various redstone timers needed to form the illusion that this game would require, albeit an example of such a timer is shown in the tutorial. Referring to the points system, perhaps a different idea would be to use the block as a pure generator of points instead so they won't both be called points (the ones from PvP and the ones from here.) For example, what about like - 5 iron = 1 point, 5 gold = 3 points, 5 diamond = 5 points, 5 emerald = 10 points, then since it could be made more difficult to get a large sum of points since you would need five of a block to gain any benefit (albeit I don't know how the point system works as such whether that is feasible is beyond me.)
Overall, I agree that this would be a fun game albeit I'm not the one whose approval is a necessity since it would be a labor to those who have the ability to build such a game.