I think it's a good idea.
I've done several with larger scrapbooks. Everyone started their own page, altered others, and generally had fun. By the time I received it, I think there were about fifty pages. Unfortunately, one person received it, never returned it, and disappeared altogether. It's just one of the risks that you take, I guess.
My brother got one where you put in a picture of whatever, into a photoalbum, but it was pretty small, it was cute though. There were a lot of beautiful and funny pictures in it.