I see several obstacles to the concept:
February 18th, 2012
1) General acceptance of such reformatting would crash the Internet advertising industry, which would destroy the business models for a very large number of useful sites, including Google and Facebook. Admittedly, the advertising industry needs a swift kick in the ass, but it IS propping up much of the "free" Internet.
2) It would create a parasitic industry that would charge Web sites for new ways to display advertising in spite of the reformatting.