I took an advertising class in college and they taught us something similar to PST. It was called mind mapping. You would start with a piece of paper and write the product you wanted to sell or the problem you wanted to solve in the middle. Then you would draw branches out from the middle, with each branch containing a separate concept/detail/theme/etc about that main item. And then you would draw more branches out from those branches and just kind of see where your brain would take you. It was actually a very effective tool for generating ideas.
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Yeah, this is a similar process, with a little more focus. I would demo it in class by getting the group to do the brainstorming on a topic they knew but I didn't and then based on that, give an on the fly presentation with a minute planning to read. While there is no way it could make me a product expert, I can "sound believable" from a presentation perspective, which means a knowledge expert would have no issues. Since I was training predominantly non-natives (Finns), it was very useful for them.