One of the relevant quotes:
Q: Is everything recorded live?
G: Totally.
D: Yeah, everything is live. It is pretty much all from takes one, two or three. Very few mixes. This is the first record we've done that Stephen Marcussen [our mastering engineer] listened to and said, "Okay, Let's transfer it." We didn't compress or EQ anything. Just transferred it from a machine of his that we really like, through the nice converters and a clean signal chain.
In my more limited experience having a minimalist workflow can have benefits that stray way beyond sonic purity: it encourages discipline and allows you to concentrate on the task at hand . The minutiae of your workflow are less important than simply having one.
All that I can say is that Water Lily records sound amazing if you never listened I recommend then highly.
"If it sounds good, it is good."
There is no one right way to make a record.