I made a few crass looking edits of what the title cards for in-game broadcasts of the (More than likely) SEGA owned English dubs of the anime series (Phantasy Star Online 2 the Animation and Phantasy Star Online 2 Episode Oracle), and what the lobby could look like in-between the waiting periods for Urgent Quests.
Please make this a reality, all we seem to have access to on Hulu and Crunchyroll are the Subtitled versions.
I'm suspecting that theater releases of the English dubs won't happen anytime soon, so this might be the most consumer friendly way of either a free event, or premium service exclusive access to a virtual theater to watch the anime.
Side note: Disabling any sound effects or disruptions during performances is something that Nexon has done in Mabinogi.
Given that PSO2 is on the same if not superior level of developer competence, it shouldn't be too hard to disable the use of Symbol Arts or Stamps and chat bubbles for as long as a dubbed episode is playing on a screen.
(The E button to focus on Quna could've been used for that in addition to changing the camera focus. Hopefully that can get patched in.)
I presume that you'd still be able to chat via the log, but it might not pop up on anyone's screen if they're using E to view the anime on screen.
Of course, SEGA could always choose to toss this idea and do an actual livestream with the anime dubs instead.