In theory I like this, but I'd have to see it play out. I have not watched a TBT game, but probably should. It seems like something that could negatively affect a winning team as well, though. Star player gets hurt or fouls out. It can happen in any game, but now that team can't just play tough defense to win. Despite playing better than the other team all game long, they have to score. Rare scenario, admittedly.
There would be some additional coaching decisions to be made.
Do you play your star player with four fouls to try to build up a lead prior to the 4 minute mark?
Do you use timeouts more liberally to avoid falling behind prior to the 4 minute mark?
Do you foul a weak shooter at the 6 and 5 minute marks to keep a team from pulling away?
Do you milk the shot clock around that time with your subs to keep the other team from scoring and give your better players rest?
I feel like some coaches will find ways to still slow the game down, but it will be done at different time in the game now.
Would they just set the clock to 16 minutes and then institute the Elam rule? It seems kinda dumb to stop a game clock with minutes left and then shut it off. Of course, watching teams play without a game clock would take time getting used to as well.