I wonder how many rulings a card like this would require

[Sunshine Jesse]

Chain Upset
Counter Trap
Activate only as Chain Link 3 or higher. Reverse the resolution order of every other card in that Chain. Negate the activation and effect of any card that loses its activation requirement by this effect and destroy it. Other cards resolve as normal. You cannot activate this card if other "Chain Upset" are face up on the field.

[Zowayix]

You might want to replace "every other card" with "every remaining card", because Chain Upset can itself be chained to. Those cards (Chain Link 4+) would go off before Chain Upset, so Chain Upset would not be able to reverse them.

So let's see here:

No monsters on the field.
Player 1 Summons something.
Player 2 activates Torrential Tribute (Chain Link 1).
Player 1 activates Seven Tools of the Bandit (Chain Link 2).
Player 2 activates Chain Upset (Chain Link 3).

Link 3: Chain Upset
Link 2: Torrential
Link 1: Seven Tools
"Link 0": Monster Summon
Chain Upset resolves, reversing the Chain. Torrential fails because it is not chained to a Summon. Seven Tools fails because it is not chained to a Trap. The Summon goes off successfully.
Here, Chain Upset has absolutely no effect. With or without it, Player 1 still gets a successful Summon, loses 1000 LP, and loses Seven Tools, while Player 1 loses a Torrential.

Now let's shake it up a bit:

No monsters on the field.
Player 1 Summons something.
Player 2 activates Torrential Tribute (Chain Link 1).
Player 1 activates Seven Tools of the Bandit (Chain Link 2).
Player 2 activates Counter Counter (Chain Link 3).
Player 1 activates Solemn Judgment (Chain Link 4).
Player 2 activates Chain Upset (Chain Link 5).

Link 5: Chain Upset
Link 4: Torrential
Link 3: Seven Tools
Link 2: Counter Counter
Link 1: Solemn Judgment
"Link 0": Monster Summon

Chain Upset resolves, reversing the Chain. Torrential fails. Seven Tools negates Counter Counter. Solemn Judgment negates the Summon.

Note that each negation card is now negating a different card than it originally targeted, and Player 1 basically negated their own Summon with their own card.

Here, Chain Upset has the same overall effect as just another Counter Counter. It prevents Player 1's actions from negating Player 2's, so Player 2 can successfully prevent Player 1's Summon.

HOWEVER, suppose you replace Solemn Judgment with Dark Bribe. If Chain Upset had not been activated, then the resolution would have been identical (minus the LP cost and the drawing). However, with Chain Upset thrown in, Dark Bribe is unable to negate the Summon, so it goes off. Now Chain Upset is useless again.

tl;dr: Chain Upset appears to be either useless or equivalent to Counter Counter, depending on whether there are an odd or even number of cards in the Chain that lose their activation requirements.

It's a cool concept, and certainly quite the mindf***, but unfortunately it doesn't seem to be too useful.