In this app's case, it's about re-imagining an existing function - timetables. The designer knows that user experience is everything, and because of this he's willing to scrap everything if need to. And even when this happens, it isn't exactly waste as you understand the problem deeper and come to the design of an even better solution.
Sure you can argue that an MVP can bring about those design iterations. Keeps your focus on the users too. But arguably the market for this type of product is very active - though not necessarily competitive. So rather than get buried with the hundred others, it needs to shine right from the beginning.