I can see this being useful for problems that are extremely linear and require extreme parallelization on large quantities of data, but that's about it.
I've done this 'methodology' many times using Excel. I did it because I I needed to give the spreadsheet to other people, and wanted to avoid having Office nag about 'potentially dangerous VBA'.
It makes it very easy to see *exactly* how your data is flowing, which is a bonus. It also uses a *lot* more ram because you are now maintaining a permanent block of memory for every single operation, for every different piece of data you are coding against. Of course, the second you get a cyclic dependency, the whole thing blows up.
But this method of 'programming' was a natural and convenient extension based on how Excel (or any spreadsheet) operates. Nothing more.
Is it just me, or does it seem like everyone now-a-days is trying very hard to come up with new methodologies and paradigms and web 6.5isms, so they can get their 5 minutes in the lime light?