Empirically, its common for fires that start in very populated areas to still be incredibly damaging. Early warning in these areas does not seem it will materially alter the situation on the ground. Take for example the Powerhouse fire earlier this year in LA. [1] That was visible to the naked eye almost immediately. But the are is a dry, high-desert tinderbox. Ground zero was immediately next to the local San Francisquito <fire station>, yer it took 11 days to contain, and burned 30,000 acres despite its immediate alarm and proximity to roads and fire-fighting gear.
The Yosemite back-country is far more inaccessible and has far more fuel below tree level that the area around the powerhouse fire. I think the notion that once started it could have been contained in under 24 hours to be almost implausible. And once it reached 40 acres, we saw what happened next. Just as a sanity check, Assuming it was 20 miles in to start, it would take 2 days to walk to the area from the nearest road. You will not be dropping in smoke-jumpers like navy seals into this terrain in the middle of the night. Its steep, rugged, and when its not is densley forested. The nearest meadow may be in the next canyon.
In any event, it would be interesting to thing about what we would do with such a system if it were in place. Let's say that we got if for FREE. Then think about the next 200 million of infrastructre that would be required to actually put out the fires more quickly. My guess is that doing this logistical exercise would be more the bottleneck than the actual alert time. The prevelance of cell phones, sat-phones, epirb beacons, and Spot devices greatly increases the ability to comuunicate <SOS>. They do not make it very quick to get help, however. The benhcmark is 24-48 hours at a minimum if you are in a remote area, even with a Helo in many cases.
[1] http://www.theatlantic.com/infocus/2013/06/the-terrible-beau...
[2] The fire station is on the road in the middle of this image of the fire:
https://d2aoguav525b8o.cloudfront.net/sites/default/files/re...
Also, there are thousands of wildfires each year. There is plenty of opportunity to scrape payback out a little at a time, no need for dozens of major incidents.
(I don't have strong feelings about whether such a satellite makes sense, but with early detection capability, maybe it makes sense to increase the capability to drop suppressant on short notice, and so on.)