I have no doubt it would be a hit with consumers. Tuesday nights out would become "a thing" for the price sensitive. That's good for everyone.
They instead just offer a discount up front. 10-30% if you book a particlular time. So most everyone except the fractional multiplier afraid will know how to adjust the prices on the fly.
as an aside - many cheap places that I end up at have menus posted outside for the foot trafic, that may be the perfect place to replace it with a digital sign for dynamic pricing.
The winning solution will be completely transparent to their current workflow, and will also be seamless to the customer. Until this happens I don't think we'll see widespread adoption of new pricing strategies.
For instance, a pricing increase when many/most seats are filled is probably best way to discriminate in a restaurant. Sophisticated pricing strategies like those could become commonplace with digital menus, and the staff wouldn't have to think about it - but they would see the effect in their tip total.
One way to go that would be interesting is to remove the prices all together, and do a prix fixe menu, with the price variable depending on when you get there (have a chalkboard or a waiter tell you upon arrival). This would be low cost to implement, and certainly something worth investigating if you're a high-end restaurant.
Chalkboard menus?
"Market price"?
Gosh, what will the next innovation be?
If I drop my prices from $30 to $20 and sell out 200 seats, I've made $4000. If I fill 100 seats with walk-in customers at $30 and 100 with voucher customers at $20, I've made $5000.