I've looked over the patch and the logic seems straight forward enough. Philosophically, I can see arguments for doing this (simplify the core of init, remove a dependency) and against this idea (it adds a new program to the sysvinit package and start-up process). So from a philosophical stand point I'm fairly neutral on this new approach.
>From a practical perspective, I'm curious if there is any benefit or drawback. Is this patch fixing a known bug, does it significantly reduce the size of PID 1 in memory? Is there a flaw in libselinux is known to cause problems if init is linked to it? I'd like to hear some options on why we might apply this (or not) upstream. - Jesse