This reminds me of Dave Taylor's idea for "pinky processors". These were similarly minimal, relying on conditional branches to do much of the work. Taylor thought massive numbers of these clocked at high frequencies would deliver more computation than complex high-IPC processors. He was wrong, as the failures of the Pentium 4 and AMD's Bulldozer would later demonstrate, but at least he was ahead of his time.

Unlike Taylor's ideas, this MyNOR actually exists in the real world, which is all the more impressive considering how impractical it is.