I'm sorry but this is at best an overcomplicated and difficult method and at worst in the hands of a beginner potentially dangerous method when done in deep water as shown. Swimming around in loose lines is never a good idea. There are far safer, quicker and easier ways to do this when you have nearly no space.
Sure this will work just fine when a rib is parked in shallow waters and a method i often use. I'll get a video together when time allows showing an alternative method.
Good illustration of why you should prerig lines ashore or on boat if possible.
Doing it in water is a pain, could be impossible.
Somewhat impressive when it works, though.