Like it was mentioned.. it happens all the time in Corporate or small operators. It lets ops schedule with more flexibility etc..
If both parties in the cockpit act professionally, then this equates to a perfectly normal operation. Only "old-School" airline captains with a (fourth) chip on their shoulder would have a problem swapping seats and command on every leg.
(hence them generally being inappropriate for corp/bizjet jobs)
Besides, whats the difference between P1 and P2? The FO will do the exact same stuff albeit from the right seat, so they are,basically, "captains under training" and should be respected and treated as such.
Also if two people dont get along, then what diff does it make wheather or not they are P1/P1 or P1/P2? Some of us dont have the option of asking our shedulers to avoid pairing them up with certain crewmembers.
Very "un-newsworthy" this..
PS When we fly to captains, people ask and we tell them about the 250hr "wonder kids" flying the BIIIG jets..food for thought for the SLF