I played an SnG where a person tripled-up on a 3way all-in and with 5 people left he started using this 'tactic'. I can only assume he was hoping the blinds would bleed us dry and force us to make moves. (He was the chip leader at this point)
You may win but, using this tactic surely messes with the amount you earn per hour. I'd rather play more SnG's and try to win than to waste time doing this.