I had a buddy that made up one of these 10 years ago or so. He tried (and tried and tried) to make his setup like that work, but it just is not good for cannabis. There is simply not enough room for root growth. Eventually the roots completely filled the pipes and water couldn't even get through...and he was still in veg. When I did DWC, I had plants whose roots would almost fill a 5 gallon bucket, so you can see how this pipe could get filled with roots quite easily. Also, all you have is the pipe...you would need a lot of other stuff to turn this into any kind of hydro setup.
I think you could use it for something like leaf lettuce that has a short growing period and doesn't get very big.