I have said it elsewhere and will say it again.
This smacks of Don Key wanting to leave his legacy. Nothing else.
You don't change your flag unless a monumental event happens in your history. Short of someone invading us this would likely involve us ditching the Queen (that would be a good and proper reason to get rid of the Union Jack)
That question deserves a referendum.
But no, Don Key would not want that because he likes hob nobbing with the Prince William's of this world.
Their money, fame and sense of entitlement sits quite well with our Don Key.