Comment Hideo Kojima had a similar (but less evil) idea (Score 1) 535
Hideo Kojima (of Metal Gear Solid fame) had a similar idea early in his career and apparently has been trying to implement it ever since. His idea was for a game that would erase itself if the player died in-game, forcing him or her to go buy a new copy if they wanted to try to play it again. This was a purely artistic idea, though, meant to force the player to empathize with their character's simulated mortality, and as far as I can tell wasn't motivated by greed. Luckily, all his colleagues realized how crazy it was and never let him get it off the ground.
Doing this to kill the secondhand market is just despicable, though. I hope this turns into a scandal for Capcom. We can all point out how DRM harms legitimate customers and secondhand business until we're blue in the face, but this is going to do it in such an obvious way (that's doesn't even have the pretense of anti-piracy!) that it should get people's attention.