What would have been sort of cool is a redraft league where the participants are the previous year's DDL / BBDL playoff teams. A 16 team league of last year's playoff teams.
Then it would really have been an "elite league" since the prerequisite for an invitation is past success. You have to win to get in, every year.
This just looks like a new 20 team dynasty league that won't be any different than if you had just said, "hey who wants to do a new 20 team league like the DDL/BBDL?"