That’s basically what ECC is proposing. Josh has said that he would rather have a grant based funding program than the direct funding model that we have now.
The one year period is supposed to be a maximum/worst-case scenario, ideally something would be implemented well before a year:
at any point within this one-year extension period, that model will supersede and terminate the one-year extension.
The first step is figuring out if the community supports the grants based model, if that’s the case then a temporary extension to design a new system makes sense.
If there’s not enough support for a grants style system then the extension is moot, a block-reward slice system doesn’t need a year to design.