Eh, I think this is an old school tradition that would probably cause a LOT more problems than it would solve in this day & age.
Now let's be honest, WWE is just like any other aspect of life in that it's not some collection of sweet, fluffy, adorable characters who live in harmony in some sort of Disney fantasy land. Some wrestlers don't like each other personally, some get into scuffles backstage, some use their greater influence with the powers that be to further themselves at the expense of someone else, etc. However, when I think of a "Wrestler's Court", I ultimately see a made up council without any sort of binding, legal authority trying to dictate how the boys & girls of the locker room conduct themselves.
Now don't get me wrong, I'm not suggesting that rules of common decency shouldn't be upheld at all. Try to get along with everyone as best as you can, be as courteous as you can and if some sort of issue arises, try to settle it like civilized people. However, a "Wrestler's Court" in this day and age would almost certainly be labeled as bullying by some people. It'd most likely have the best of intentions but it's all but written in the stars that someone will wind up saying something that's taken the wrong way, someone will say something they probably shouldn't say in the heat of the moment and it'll just start piling on from there. As has been mentioned, what went on in this "court" would make its way onto social media because we're now a society that, metaphorically speaking when it comes to social media, can't keep our friggin' mouths shut; we have to tell EVERYTHING that we do on social media whether it's letting everyone know we're going to a job interview or having lunch at Dave & Buster's. Even if there was some sort of pledge or promise made by all who attend this "Wrestler's Court" not to say anything via social media, it'd be as legally binding as the pledge that Donald Trump signed recently that he won't run as a 3rd party candidate. As a result, there'll either be at least one or two who decide to break the pledge or they give the juicy details of what went on, what was said, what it was all about, etc. to someone else who works for the company, then they'll post it on social media or get in touch with Dave Meltzer or some other wrestling journalist and it'll wind up all over the internet and social media anyway. If & when that'd happen then, of course, someone would take issue with it, just like everyone does with everything that goes on these days. It'll range from some people who find it kinda interesting, maybe an aspect of wrestling they didn't know about, some will think it's kinda funny without taking it too seriously, some will be anything from slightly pissed to fully outraged that they're trying to dictate certain things, etc.
When it's all said & done, it'll ultimately wind up being labeled as bullying in some overly obsessive, politically correct way and, depending upon what the situation is & the circumstances in which these "Wrestler's Court" sessions are conveyed, it'll be an accusation that'll probably have some weight to it. The result will be more accusations of WWE being hypocritical in terms of it's anti-bullying campaigns like we saw with Bill DeMott, WWE management will deny knowing that it was going on, which will lead to other criticisms on how WWE brass is either lying or needs to do a better job in keeping house, and may ultimately result in some people being offered up as sacrificial lambs who'll lose their jobs to placate the masses.