It would be interesting to consider credentials, courses, and colleges as open concepts. Are you proposing common concepts and testing between each course no matter the college? This would be a hurdle to overcome for courses - let alone credentials - being equal and transferable between institutions. For example, there would need to be some standards between institutions and industry so that they could reasonably guarantee that a student knows a concept; from writing a press release, to web design, to operating equipment, etc.
I did an Associates before transferring to my Bachelor institution. Yes, I too had to retake a course and it was higher quality at my first institution...!
An interesting observation I had is that my Associates helped me on the job market since it was a college milestone for my resume years before my colleagues had anything but "in progress". Perhaps there is a milestone aspect to your proposal and the credential proposal that has an impact on job potential.