It works, I suppose, but it's very inefficient and it's a real good way to end up with inconsistent pizzas and some serious burns (like the one I have on my thumb from relocating a hot stone a couple days ago).
When I began making pizza (in 1997, when there were no real sources of pizzamaking knowledge available to people like us), I built my pizzas on a hot stone, similar to how Erik does it in the video... because I was a total beginner who had no idea what he was doing. But I soon figured out that that's not a good way to do it, so I bought a peel and began peeling my topped skins onto the stone inside the oven.
Especially considering the fact that Erik has a perfectly good wooden peel, his procedures are what I would call less practical than just about any other method I can think of. Erik seems like a nice guy, and he has obviously stretched more than a few dough skins in his life, but stretching dough seems to be pretty much the only thing he really knows about making pizza. Furthermore, his stretching knowledge seems to be limited to one particular style: the style of the restaurant where he worked.