I think it'd be along the lines of a semi professional competition, set up similar to the NPC/ITM/Mitre 10 Cup style, 10-12 rounds. It would need to be a competition that's sustainable in the long term as well. Also learn the lessons from Super Rugby, no teams a million miles away, no team that's 5+ hours in front or behind.
Ideally a competition with the support of local governments and appropriate pathways for those competing to go to higher honors. All with some assistance from Twiggy to help.
Force (with a full time professional program if you include the NRC)
Singapore (who have indicated a desire to build some presence in rugby)
Fiji (The Drua, with this and the NRC potentially a full time program)
Samoa/Tonga (Semi professionalism is prob as good as they would be able to get)
Sri Lanka (already have some professional 7s programs)
Hong Kong (have a full time professional program already, might give them some regular competition)
Run in conjunction with Asian 5/3 Nations, Pacific Nations Cup and the NRC. Pathways can't be ignored, we should all realize that after the brainless decision of the past 175days