Yes, it’s making the tagging more verbose and complicated in order to enforce granular detail, which is not how OSM’s iterative tagging works.
It’s also non-intuitive in really common cases. Let’s say there’s a bi-directional cycle track on the right side of the road. Right now (if you haven’t iterated towards a separate geometry) you can tag that with cycleway=track, which means “there is a cycle track”. Under the colon-infested scheme you need to replace it with two tags, one to say it’s on the right-hand side of the road, another to clarify whether it’s bi-directional. Even I can’t remember what the tag for the latter is (cycleway:oneway=no maybe?) and I do this sort of stuff for a living.