I wouldn't call it that, it's a hack really, hopefully temporary until a better solution evolves. It doesn't allow to pick which algorithms to use (along with the complete lack of user preferences as you mentioned), it only works with AMD GPUs, it requires to set up a separate "pool" for each algorithm (times 2 or 3 with backups), and is generally not scalable. It's not hard to imagine that a possible future path for GPU mining might be a growing/changing list of algos to choose from, so there has to be a better way to do the choosing.