Well, the idea isn't so much as to limit normal people, but rather to give another chance to fend off the trolls.
For example, this morning someone started creating "anti-known monk" handles. This is the sort of thing that this would address.
What if we modified the proposal slightly to say that if, after seven days, no votes had been registered, then the handle is automatically approved?
That reduces the active amount of work on the special teams unit and still allows us to step up with a troll starts playing games again.
Furthermore, what happens if someone creates a blatantly offensive nick?
I'm not trying to create another layer of maintenance, but rather trying to come up with a troll prevention device, as well as another broom in the closet.