This is a really interesting initiative from the university of California. If the scholarly landscape looked like this then publishers would have to generate revenue entirely from services and derivative open products, rather than from content licensing.
Most of the points is the manifesto are fairly unsurprising but two points stood out as interesting to me.
Point 10 asks for all metadata to be made available including usage metadata. Are Counter reports sufficient for this, or is anything else needed?
Point 11 is really radical. It asks for universities to be compensated for the time that their academics spend doing peer review. I leave it as an exercise to the reader to figure out how that might work in practice (hint - it would be really hard to get full accounting for this time, so some kind of semi-arbitrary figure wold be needed, but that could start to marketise a kind of effort that might be best left outside of the marketplace).