I like the idea of the license if for no other reason than to be able to tell my boss:
"Sorry, I can't let this product be released because it would be unethical and I could lose my license."
On a more serious note, I think if there was some 'independent' organization, like "National Assocation of Computer Scientists and Software Engineers" or something along those lines that could manage the whole licensing thing like similar organizations do in all other aspects (M.E., electricians, etc..) it could help to avoid the MSCE phenomenon and maintain expectations beyond a piece of paper.

--Glenn