well if its so simple than maybe it would be fun. It would give wizards something further to do.
A Day out gathering regeants for spells..maybe even give people another something to market.
Then maybe they can voluntarily do just that - it's called roleplaying. You'll find that it gets ridiculously boring and tedious to go around gathering up reagents for every single spell; most will rapidly tire of it. The server will also lag to death storing bits of dropping from bats, feathers from ravens, bits of web from spiders, as non-wizards won't pick them up. You can try to claim they will sell, but the fact is that they leave pixie dust and ichor all over, even though it can already be sold.
It's livable at present, since it's for a few useful spells: requiring it to even cast, as has been suggested, despite your comments, is simply asinine, and not in line with PnP, which seems to be venerated here, as many spells have been altered 'to be more in line with PnP.'