No.
[There are some technical details because pi is not a random number, but for the sake of simplicity, let's assume that pi is a random number.]
It's much easier if we'd live in a word that use base 8 instead of base 10.
Let's suppose that we have the sequence of digits of pi in base 8.The algorithm of the GP is to replace {0,2,4,6}->0 and {1,3,5,7}->1 to obtain a binary "random" sequence.
Your alternative is to write pi in binary, and use it as a "random" sequence. But if this is a good "random" sequence then you can pick every third digit and get another good "random" sequence. [Here good means something like iid with uniform distribution]
But if you start at the correct position, it's equivalent to pick every third number of the binary representation and to classify the digits in the base 8 representation as even or odd.
If you choose other starting points to pick every third digit, you get alternative maps:
* low and high: {0,1,2,3}->0 and {4,5,6,7}->1 (like in the roulette[1])
* crazy: {0,1,4,5}->0 and {2,3,6,7}->1
These other two selections produce also good "random" sequences.
The important part is that the projection that is selected maps the same number of elements to each element. In this case the three methods maps 4 elements to 1. This ensures that it maps iid with an uniform distribution to an iid with a uniform distribution.
Moreover, you can pick any arbitrary 4 numbers and map them to 0 and map the other 4 to 1 and it will work as well as the other three maps I used. (This is like the red/black option in the roulette[1].)
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Back to base 10. Any map that maps 5 number to 1 will maps iid with an uniform distribution to an iid with a uniform distribution. In particular the even/odd map that the GP is using is fine.
With this map you loose a lot of entropy, but since there is infinite entropy you can drop a lot of it and still keep infinite entropy. It's not as efficient as using the base 2, but it correct.
[1] An ilegal fair roulette, with 36 numbers, without the green 0.