Paragon System Used in PvP

The Paragon System could hold a long term purpose rather then just additional levels and +3 to GF/MF.  Reaching Paragon Level 100 will take a while and most people will quit after a few levels. So in order to keep player interest, Blizzard will release PvP.

How Paragon System Might Affect PvP

Blizzard can use the Paragon System to rank players according to their Paragon Level. So each match will consist of all players being at the same level. The only variables differentiating the players will be their gear,class and skill.

Example:

So lets say I am a wizard at Paragon Level 20. I will be facing other players with the same Paragon Level. If I win, my rank increases. Blizzard can even take this one step further by using a reward system.

Reward System in PvP:

If a player wins his/her match that player should be awarded with exp. And if a player is Paragon Level 100, the players will be fighting for a chance to win a random Legendary item.

If a player loses his/her match, they will lose exp.

Player Ranking:

Players will be ranked according to their Paragon Level and the amount of exp. So a Paragon Level 20 with 99% exp will most likely be in the highest spot.

What do you guys think? Is this a reasonable system that Blizzard should add to PvP? If not, why?