I think it's great. It gives the horses mouth a bit of a break, and really strengthens the horses mentality and trust with a rider. It's definitely something to work towards, it's not an overnight thing, and really requires you to use your body to control the horse, not your hands
I know someone who always just rides in a rope halter with a leadreign connected. She does a lot of liberty with her horse and you can see the amazing connection they have. She's also done jumping with this had has not trouble getting her to slow down/ stop.
I think it's great! I personally don't ride with a bit. If your horse was trained to only obey with a bit then it's good to train him to be able to work without a bit. I'm sure your horse prefers bit less riding, too! lol that's what I want. I don't ever want the horse to be uncomfortable or hurting or unhappy with the equipment I put him in. Bits are extremely uncomfortable and even if they were "comfortable" I don't think your horse would like to be controlled by a piece of metal stuck in his mouth, just sayin. Lol that's just my opinion😂💞💞