Never heard of this. Sounds interesting, but then again, it might encourage quantity of content over quality. For example, I hate searching for recipes online because every recipe bloggerchef thinks that we need to hear all of their personal anecdotes about life and culinary experience with their 3 kids that they assume we know by name. I don't need all that, just the content I need. Or to view this another way, prior to Google, every other major search engine used to try to drag out the search process as long as possible in order to run the user through layers of spam and ads. I'd hate to see that become a thing again.
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Some valid points.
Regarding your first example, if that's the case and you don't enjoy reading about the author's life story, then you simply would not continue reading it and move on to somebody else's content that is worthy of your time. Readers would soon tire of quantity over quality. Those producing quality hold a readers attention for a longer period of time and would be rewarded accordingly..
As for ads, the BitTube extension is an ad blocker. I haven't seen an ad in months since I began using it and I'm getting paid for it.