I like the idea, but given there are so many segments it does seem like it just becomes too much.
Maybe they should do an opt-in for certain segments (that you really care about).
Maybe they can implement some sort of combination between just number of attempts and time (and maybe even rank for each day, as in maybe you come top 3 on any day you ride, but overall are juts top 10% because over the years many strong riders have dropped a faster time than you can).