I miss the Festivus times we had some volunteers spinning live throught the holidays
Such a proposal would be great, though my first thought is that everyone likley has their needs already met by their own personal library, or soundcloud or other service accounts, and it's 'their preferred music'. Secondarily, I can't see why there isn't a thread in Music Discussion where people post a playlist or station they like with a short description in their own words about what type of music and setting they'd recommend.
But to the OP proposal, I don't see any reason you can't start up such a thing 'unofficially' and if it has legs and can maintain that we try to find a way to 'officially' connect it back to the site. As a start, maybe see about creating a soundcloud account for collecting such playlists, and share the credentials with a few key start up folks (maybe MD mods, or most active members?), see if it can build to what you envision?