By way of comparison, there are currently about 8900 total active objects (read: working satellites) in orbit around Earth and 35700 pieces of debris [0] or as-yet-unidentified junk [1].
That's only stuff at least 10cm in diameter, which is about the smallest object that can be tracked. There are several orders of magnitude more objects smaller than that.
So this plan would more than quadruple the number of active satellites in orbit. Not quadruple Starlink's satellites, but quadruple the total number of all satellites in operation. Ruining our view of the night sky -- as bad a problem as that is -- is nothing compared to Kessler Syndrome [2]. But we'll probably have to learn that the hard way.
[0] https://en.wikipedia.org/wiki/Space_debris