Great idea. I thought about doing something like this a while back because me and some of my boys would frequently discuss albums on a regular basis anyway.
Only issue you'd run into is you have to have an independent 3rd party, someone who's not in the album club but who has similar sensibilities pick which album would be reviewed each month otherwise it'd get boring or not everyone would take it serious.
Once again great idea though considering for most of us here, music, specifically hip-hop is something we pride ourselves on being able to discuss ad-nausium like people discuss books, cars, art, movies, the Bible etc.