This could have been nice ~15 years ago when using much fewer poly counts and relying a lot more on textures for detail was more common. But at the same time, GPUs were also much slower so this approach would be slower too.
So in practice this is really a niche approach for when you want to have a large quad that isn't "perfectly" mapped to an underlying texture and you can't subdivide the quad. Nowadays such use cases are more likely to come from more procedural sides (or perhaps effects) of the engine than artists making assets for the game.
It might be useful for an artist wanting to use a modern engine running on a modern PC to make a low-poly retro-styled game though.