Moffitt System Gaining Momentum?

Is the Moffitt System of angling gaining momentum? It has recently been approved in Colorado where initially it was thought as a method of “snagging” (other states may have the same qualms). The system uses hookless flies tied above a “circle hook.” When the fish takes the hookless fly, the fly slips through the fish’s mouth and then the hook penetrates the outside of the jaw. Is this helpful for the fish, or just a money making opportunity?