I think it is a cool idea.
You ask to pick your idea apart, and the only big downfall I see has to do with the ongoing cost of operation. As long as you are good with supplying the inputs to keep the artificial water flowing to keep the ponds in good shape it looks like it should work keen.
I don't see where you would need to wait two years to make the ponds, as long as you compacted the soil properly as it was deposited onto the plateau.
Besides, we don't want to wait two years to see how it works out!

I can be really good at spending other peoples money. Get right on the project!