Hey Iztok,
well, actually, I got rid quite a few times of my starting planet, but I cannot use this button either. The game will automatically choose a new Cap. And in that sense I wonder why the button is there, it doesn't serve any purpose...
well, nevermind....
In one way you are right, this is abuseable - ie. in my current game there are probably 30 CivCap-planets; which, in fact, raised my interest into this. However, it all are worlds that I took from the AI, that is, the AI's are somehow capable of doing something that I can't re-create.
I wonder why all this got changed at all - in DL it worked. You selected an initial colony as CivCap, and exactly then did the old CivCap loose its bonuses and was downgraded to an init. colony. Which ment, that in case no farm was build there you could loose quite an amount of pop upon preceeding to the next turn, as well as reduced moral etc pp. It also was the case when enemy CivCaps culture-flipped to once own empire - they got the downgrade subsequently....
although... now that I think about it a bit more (my last DL game was 3 months ago...) I remember that the downgrade was halted and only came up once the game was reloaded.