Doesn't solve any of the big problems with boxing.
Too many shitty organisations with too many shitty belts. Without the face of a real champion, the average sport fan has no one to connect with. Essentially, it makes for a lack of superstars. Naming all the various champions in each division even for an avid boxing fan is difficult.
No prime time or free boxing as an entry level for new fans to the sport. ie Ultimate Fighter or Ultimate Fight Night cards.
Big fights aren't happening any more or when they do not regularly enough.
Smaller gloves solves none of these problems and would probably just cause more health issues with the standing 10 count allowing people to recover and fight on from things that would end a fight in MMA.