I say do it. Why?
Because you lose nothing, and gain a lot
People on beta sites tend to lose interest after a while - there seems to be a natural drive to get the 'beta' label off the site. It almost feels like a bad thing, and people start asking what they need to do to get rid of it. More importantly, they were promised that if they do everything right the label will go away... and it hasn't.
By doing this, you move the thought process from:
"we're doing something wrong, obviously, but we have no idea what and those CMs aren't telling us. They obviously hate us."
(which is very very frustrating to some folks), to:
"oh, the team doesn't have enough resources to get us colors yet, but we can have elections and other shiny toys. Hrm okay"