I think Challenge accounts are beneficial to FAF IF they are moderated heavily, as they can almost relieve the stress of alt accounts if done properly. I know the Trainer Team can utilize this concept very well and create a lot of long lasting training material. I would also happily take full responsibility for the trainer team's use of challenge accounts.
Also, Challenge accounts don't have to be given out willy nilly, they can have a vetting process done by either mods or a chosen committee, which may help with keeping track of them.
Overall, it's a good concept, and the fact we have such a diverse group of opinions shows me that if done right, it can be very good for FAF.