I totally agree and I'm totally an "act like you've been there before" kind of guy. I appreciate the spirit of what they are trying to do but I fear that a rule like this cannot be enforced consistently by all officials. If a player is going in for a long TD with no defenders really near him and starts high stepping at the 5, is that taunting (who is he taunting)? What if he just holds the ball up in the air for the last couple of steps to fire up the crowd?
By the reaction of the coaches after a team is assessed a 15 yard penalty on the kickoff with the old rule, I think that penalty was plenty strong. Maybe they should treat it like getting a card in soccer. First time it happens, it is enforced on the kickoff and the second time in the same game by the same player, it is a spot foul. But even that seems to give the officials to much ability to arbitrarily take points off the board.