This ain't the 1800s. The vast majority of Chinese citizens who have finished elementary school are able to recognize at least 2000 characters. Knowing how to read and write Hanzi is no longer an indication of "intelligence" or "elite status". In Japan, maybe, but their language is completely different.

In case you've missed the last half-century, there has already been two Chinese written language reforms (though the second one didn't stick). It's called Simplified Chinese.

The rationale in your comment is absolutely bizarre and it reeks of arrogance with a side sprinkle of ignorance.