I'm skeptical to say the least. Much like the often-suggested yet never-materializing "Jakarta Logging", the discussion typically centers around what implementation it should be based on, or what existing API to derive it from. But this is not the right approach for specifying something like this.
The way I see it, you need to follow one of two approaches if you want to define a successful specification:
1. Take a widely-used, de-facto standard and make a formal standard out of it (this would be MP config)
2. Start from the beginning by identifying use cases and user categories/roles, and derive requirements from there, and then drive a clean-room design from that work (we tried this and nobody could agree on the use cases or user categories/roles)
I think option 1 is pointless. MP config already exists, flaws and all, and having two specs saying the same thing seems like a waste of energy to me. And option 2 I think won't fly unless you can remove some people/orgs from the WG or dramatically change their views.
IMO this effort should be terminated.