FF bytes are an easy way to identify an invalid UTF-8 file. This idea doesn't have that property.
It's still a joy to see how frigging elegant and extensible the UTF-8 specification is. And even without the esoteric 0xFF lead byte, the regular UTF-8 encoding with a 0xFE lead byte (11111110) would still have plenty of headroom (36 bits) compared to the current 21 bits for UNICODE.
As are FE, FD, FC, FB, FA, F9, F8, F7, F6 and F5.
True, but not all non-UTF8 bytestrings contain 0xFF bytes, so it’s not very useful in practice.