I agree that flopping is a problem, but I don't think this works much better than the current system. It's not going to stop the bang bang sequences that happen so frequently now. The players are too big and too fast. It's a little like the PI call in football...strictly a judgment call that happens so fast that you can't really expect any ref to get it right all the time. And unless you want to make everything reviewable, there isn't a good alternative.
The article lays this out really well, but the way it improves the current system is:
1. The ref has less to think about and look at for these bang bang plays.
..determine whether a defender was standing outside the restricted area, whether he moved his feet, whether he established position before the offensive player started his upward motion, and all the other factors that go into making block/charge calls the hardest thing for refs to get right.
All the ref has to do is determine if the defender made a play at the ball, or if they just stood there waiting for contact.
2. Gives the benefit back to the offensive player for beating his defender.
If an offensive player is in control, beats his man to the basket, why should a secondary defender get rewarded for sliding in the path of the offensive player? The secondary defender makes no attempt to steal the ball or alter the shot. They just stand there waiting to fall down.
For #2, again Titus makes it clear that LeBron can't just run people over, that's still an offensive foul.