Gender equality means gender equality.
What exactly does gender equality have to do with dating? There is nothing remotely equal about the experiences of single men and women. Look at some of the statistics in the article - on one site the most attractive woman got 17 times as many messages as the most attractive man. There is nothing equal about the way that men and women approach each other when dating and, frankly, most women will not pay to date. They don't have to. OKCupid may send you an email saying that you are in the top 10% of attractive people on the site. If you're a man, this means that your picture is shown to more attractive people, and also that you'll see more attractive people. If you're a woman, you get those same perks plus you also are automatically on the "A-list", which gives you more searching options, lets you browse profiles undetected, and other things. Men have to pay for the A-list, attractive women do not, because the site knows that many men will pay for better access. This is the exact same idea behind "ladies' night" at a bar or nightclub. If the women are there (and they are more likely to be there if its free), then the men will follow (and pay).
There is nothing equal about dating. The business model described above could definitely work, and in fact the women who use it would probably be thankful for the lack of crap messages that they get. Meet some women on dating sites and take them out some time, ask them about the messages they receive. Ask them about the number of messages and the content. Ask them to send you a few examples of what they get. It is nothing like the messages that men get from women. Any woman who has sent me a message has just asked a casual question (what's my favorite band, movie, etc), asked about something in my profile, went for light humor, etc, and they've done it with good grammar and spelling. Ask some girls to send you examples of some of the messages they receive and feel free to compare and contrast. Come back and tell everyone how equal it is out there.
Personally, I would be fine with something similar to the above (although seeing a person's message history to everyone would not be a feature I would add). I would feel confident that I could use that site, send the messages I want to send, that they would get delivered, and that women could look at my message acceptance levels and figure out that I'm a respectful person. If that makes it harder for the guys sending messages about tits and ass using some misspelled version of txt-speak, good.