this is almost exactly what I proposed a few weeks ago....see thread here
Here is what I found. Most people will have poor quality video.....it would be the cameras fault and the INTERNET....not the rider or camerman. You have to render and compress videos to get them on the Interweb...thus giving low quality video. You would also have to specify what codec and what aspect ratio, frame rate, resolution and everything else. NOT to mention the audio encoding. IF you can get everyone using the same resolution and the same codecs.....you would be a little closer to making this happen.
Then next part is getting the costs covered for the actual items....most likely someone will donate the time...maybe the dvd's.
I have faith that it COULD work...but I wasn't getting the responses I needed to do so. Good Luck