Yeah, I saw that article, and to be honest my first reaction was to check it wasn't April 1...
There are some pros and cons. On the pro side its original and may well appeal to those youth (and not so young) yearining for a somewhat different 'going out' experience. However the price would make it so elitest that you'd only find the children of rich businessmen on board (Ok that's exagerating but you know what I mean...)
However that flippant comment on air rage is quite important. How would you like to control 100 drunk young people who for their amusment might randomly decide to open the doors inflight for "fun" or do other random acts of stupidity like trying to pull out seats? It is something to consider... Even an alcohol-free service might risk going a little over-the-top.
Another thing is that Seats will still be required for T/O and landing, not leaving much of a dance floor...
Oh well, I'd be surprised to see it go ahead but I suppose any plan seeing AN staff and a/cback in the air is positive in itself.