Nothing inherently wrong with the circuit. What it does depends on what's connected to the inputs and how it's controlled. As drawn it does nothing at all because the inputs aren't connected to anything. If they're on a connector it still does nothing because the connector lacks a ground reference so can't supply a control voltage or current. What happens also depends on the transistor; something like a 2N3055 on a heatsink can, with its low current gain, function as an adjustable load, wheras a 2N3904 with its high current gain and poor power dissipation will be difficult to control and most likely go up in smoke in short order.