And it would, for entirely idiotic reasons slap everyone with the thickest, nailed moron-bat in order to achieve the 4-way war.
Who the fuck will be happy if CCP basically says "The empires are all morons who would start another war among old and tried allies over trivial issues and get millions to billions more killed and fuck-up the power-balance for the hell of it." ?
Well, all the pirate factions will be laughing themselves silly while plotting raids and other fun shit while they can.
Honestly I'd rather see an end to intra-faction wars and have 4 individual wars to expand Empire controlled areas and make for huge land-wars against true enemies - Federation invades Fountain/Serpentis, Empire fights blooders in some other region, State decks Guristas and sets their eyes on the north, etc. Empire-loyal players will be enrolled to help in this in return for fat rewards, null-powers can and will sign up for the pirate factions to help them and preserve their null-zones for various reasons, including fat rewards, etc. etc.
Make the wars about something more likely and meaningful, and perhaps nerf high/low-sec mission as a consequence to this giving players incentives to go help in the war-effort etc. It could be freaking great, if done right and balanced, or maybe not if pulled off half-assedly.
Just don't freaking continue to act like the leadership of supposed interstellar super-powers are all idiots who would risk their own asses over petty, trivial reasons, please...