Oh no. I apologise, I wasn't clear. My issue isn't that I dislike social pursuits, my issue is that this one looks like it's going to be All About Favors. The trading of and creation of social obligations, with mechanical abilities for same. The problem, in my opinion, then is that if you have mechanics or abilities in the game that allow for the creation of favors, those characters without those abilities are now incapable of - or at least severely disadvantaged in - trading favors for favors.
As soon as you create a rule for something that was just fluff or flavor before, it greatly increases the difficulty of don't that thing for someone who isn't built to use the new rule. See also: Feats in D&D.