My reaction when first hearing about this was:
"What? Are they out of their fucking minds!?"
But this is pretty close.
I never had any interest in Watch Dogs to begin with, it looked like another Titanfall situation (by which I mean the game gets loads of publicity, is pretty much decided it'll be a hit by the developers before release, gets released, then everything goes quiet and no one ever mentions it again), but this?
This is the worst possible way to sell anything. Imagine if a book was sold with 5 different versions, each telling a slightly different story. No one would buy that. No one would know what the real version is. What if a movie was made this way, where every version was using different colour correction, aspect ratio, and accents by the characters? That would never sell, it would just annoy people.
What really pisses me off is that EA and Ubisoft are called "industry leaders", by which they must mean "the guys leading the industry into a brick wall".