It's a good option. It solves some of the problems like early dumping of coin and the team taking all the money and going scam. Going scam is an intention and may not be easily avoided but when there is low supply, the price does not decreases sharply. One of the shortcome could be if not studied and placed according to the need, the team may face cash deficient as a fixed amount of money is only released. This could even be solved with the governance of coin, investors should be able to vote in order to release next batch of coins to the team or not.
That sounds like a cool idea, but wouldn't it be vulnerable to angry investors abusing the system? Even if the launch was successful, the price can drop for multiple reasons that have nothing to do with the team. Team would be interested only manipulating the token price to keep the value up until they got paid. It would need to have a legal advisor oversight and that would cost more money.