I think this is a great idea. Film should always be about illusion. If you can create a perfect character with the singing voice of a singing star and the acting/looks of an actor, why not?
People have shared roles before (Jasmine in Aladdin), and both performers can get praise for their part. Also in the old films and more recent films (Phantom, Carlotta), but I think sometimes ego's get in the way.
For me it's all about the quality, so I would rather have the best singer dubbing, known or not. But it seems that producers look for names instead of talent, so this could be a solution.