It's pretty much how ico coins used to sell before they did fixed amounts. You 1 btc could start off with 10k coin but if lots bought in you could have 1k coins for the same btc. I actually think its a decent way to go if a  lot buy it. If not many people buy it then it creates whales of a few. So imo it has its good and bad cases but over all it is most representative of the people most interested in the project that buy it.