Can't say it's a bad idea in itself
Open Source is arguably the future of computing, where OS and platform security are concerned at least, so this seems a good idea to me.
Unfortunately, there is the fact that AV scanners are all based on after-the-fact signatures, rendering 0-days possible, that kind of diminishes their value. I have always felt that an executable white list, with the user authorizing new programs at he launches them, is a necessary complement. If an .exe you haven't yet launched tries to start up, you should get a warning and decide whether or not you want to authorize it. At the moment, the Task Manager can only help you shut down an application you don't want running - and malware does its damnedest to keep you away from the Task Manager.
So yeah, an Open Source AV engine, why not ? Sure, it's not perfect yet, but I think it has potential. Let's give it room to grow, shall we ?