It works well for seedlings, and is one of the standard development techniques.
So it's safe to say that this technique is mostly used for training a seedling and not an established tree?
If so... That's probably why I've never heard of this, because unless I'm going to leave a tree in my will for my son to take care of, I'd have no interest in it as a man of my age.
Don't most Bonsai enthusiasts try to hit the ground running for best results?