I actually like the idea but there is too much loose paper for me. I don’t want to think about working with that by an open window or outdoors. And I think you will need to put quite some effort into keeping everything in the right order.
On the other hand this system makes it really easy to move paper around and get an overview. I really liked how fast he could spread the pages on the table for example to perform a Weekly Review.
Well, in the end I would still prefer my good old loose leaf planner, but that’s my personal taste.
I hope that helps you a little.