Maybe. But I doubt it.
First because people don’t quit that fast and second because I think something else might happen that is worth the risk of loosing a few “top” quitters.
I think top people will realize there is an opportunity here, and after seeing how effective it can be for a team to work toward a common goal, will request other such tasks be added to the list.
Eventually, people at that company can choose where to use their “20% service job” time.
But, then again, don’t worry, it’s all theoretical anyway, it’s obviously not up to me.