The intention is good, but there are far better ways to speed up the game. Limiting the number of pitchers allowed to be used in an inning or a game would help a lot (normally I think Tom Verducci is an idiot, but I agree with him on that one), though it's too radical to ever happen. Maybe at least put a limit on the number of mound conferences.
I would say the intention is good but the effect is inconsequential.
Half of the problem with speed of the game is the same as the NFL. Turning them into national broadcasts and even within the park, turning them into entertainment beyond sport has lengthened the 'game'. Mascot races, trivia breaks, all sorts of nonsense because god forbid you show up to watch baseball.
Pirates/Cardinals played 3 games in 2h14m, 2h31m, and 2h40m. Those are perfectly acceptable game times.
So fuck the Yankees and Red Sox for making this a league wide issue.
P.S. Also fuck people who get up and down from their seats during innings.