I do remember the program
@Marauder06 is referring to - it was really a language skills program, now referred to as 'heritage' speakers. You no longer get the rank but you can skip some AIT/DLI requirements. By and large it helps fill language shortfalls but the participants are significantly disadvantaged for career potential - combination of poor English skills and technical knowledge behind their peers.
I believe the band program is similar to that of special staff officers - SJA, Doctors, Chaplains -
in that rank is granted to ensure pay is commensurate with technical skills. To my mind it's a great argument for a pay progression scale independent of rank.
I've heard something like that used to be done with the specialist rank - where you could move up in pay but did not take on leadership roles.