My favourite bit:
In practice, once the Covenant was in place there would be immense pressure to toe the line on whatever issue the most intolerant chose to campaign about. One by one the Standing Committee would build up a set of pronouncements which became the Anglican teaching. We would be turned into a confessional sect demanding of our members assent to an ever-increasing list of doctrines.Go read the whole piece.
The way to avoid this absurdity is to make sure the Covenant does not come into effect in the first place.