Just adds a dedicated rank for it. I think it'd rather be good for contests (maybe even weekly ^-^). As always, it's just a idea, not a set-in-stone plan =)
I see this as any Staff position. Even if it were used to start contests that would be pointless to create a rank for that. Anyone in the community can start a contest whenever they would like to by posting a Thread about it and people can sign up for it.