Besides the many issues raised about this approach, another issue not addressed by this approach is auditing. The Time dim (the most important dimension, IMO) is dynamic. It's members are ephemeral and only created on the fly. There's nothing to audit.
Auditing is less important when using when using a simple "textbook" example like the one chosen. OTOH, real-world Time dims can be much more robust and will take time to create, audit, and maintain.
IMO, this is an example of a nice theoretical discussion of what you CAN do but probably should NOT do.