Yes. But this is _nothing different_ to the already existing E-2 visa which will allow you to open a business (any business) in the US and leave here 3 or 5 years (depending on however processes your visa at the embassy) and can be extended indefinitely.
You need to put money at risk (a substantial sum, around $100,000 is recommended by most lawyers) before getting the visa but other than that if the business plan is sound it's likely to get approved.
Yes, it can be used to open a restaurant. That's fine, as long as you hire people who is already allowed to work in the US.
How could this possibly hurt the US economy or its workers? It's just a new business, with foreign money on the line, that must hire people in order to have the visa extended.