It sounds cool. It's a fresh start with base gear. What about mag raising? That's usually the biggest impediment to the early game.
There are so many different things you could play around with... When the character rolls back into the regular account, do they keep all stats and gear? What if you had the option to carry the character into the new season and keep all stats/gear, or you could cash it in for a starting reward for a new seasonal character? You could make some kind of aggregated value based on level, materials consumed, rare weapon points total, and mag level to determine the reward amount.
eg. character level 50 + mag level 150 + 15 materials eaten + 35 team points worth of gear = 250, you can keep the character into the new season or cash it in for a new character that gets 1 reward, or 250 points worth of rewards.
Totally spit balling here. You guys come up with cool shit. I love it.
And as Matt said, there "shouldn't really be an excuse to avoid innovation".