I think it's a great idea and look forward to hearing how it went!
Contrary to some of the opinions here, it makes sense for them to hold it AFTER the game is live. Our guild has been gaming together almost 10 years, and this guild for this game was up and running almost two years prior to launch. I have pages of 'members' who SWORE they were going to play, but have gone MIA, prior even to the open betas. The best way to receive valuable feedback from a segment of your consumer base is to identify and interact with your consumer base who is actually consuming your item. Yes, yes, I know you are the most avid star wars fan ever and had forums built the day they announced the game. So did many others. There is no way to accurately gauge your true player base and meet with them to discuss anything, until there IS a true player base.
It also makes sense to choose 'representatives', and the best representatives for the masses are the guild leaders. If you disagree, explain how you would choose 'representatives' from millions of people? Who can provide not only 'individual' feedback, but 'collective' feedback from more than one viewpoint? If you're saying a lottery system accomplishes this, I fail to see the logic. Individuals would provide feedback from one viewpoint, theirs. Guild leaders have collective viewpoints, have heard various complaints and ideas from more than one person and can provide much more in terms of quality than an individual member.
The only part of this that makes me say, 'that sucks' is the lack of compensation. BW should cover the costs.