I think that many sites wouldn't use individual scrollable elements correctly. Much like sticky headers, you end up with an upside-down L-shaped (like this: |‾) area of static, individually scrollable content. Your viewport shrinks to 75%. That's annoying on desktops at best and pretty much unusable on mobile at worst. It's reminiscent of Toolbar Explorer[0].
If you can use individual elements nicely, go ahead! I believe that if the trend caught on, it would be worse for everyone.
[0]: https://c1.staticflickr.com/3/2040/1924189728_668c4bc4e2.jpg