First off, I agree that it entertaining. This isn't like watching 8 different cuts of someone getting tagged at 2nd. You tap your cap and a screen magically appears. I think the fans will love it.
Past that, I like systems that have to played judiciously. It would be insane to challenge a call, early in the game, no one on, and 2 outs. But, if you think the umpire missed the call by three inches, then it makes sense to challenge. But you could be wrong.
Maybe a bit akin to stealing 2nd down 5-0. Ordinarily, not a good move. But if you are 95% sure that the pitcher just lost track of you, then it becomes a lot more sensible. IMHO, you just need to develop a comprehensive approach where you weigh the marginal cost/marginal benefit of each challenge.