For the people who work with stacked diffs (in phab/otherwise) this is exactly what they'd consider reviewing a well-curated set of commits one-by-one.
One distinction is that cognitively a unit of review (a PR, a diff) remains a single bound change. Comments are focused on that change and the PR does not grow with size of the feature
Another distinction is the ability to focus each part of the stack to a particular audience. One change may require review from an external team, another may be just your team mate, a third might be the consuming team. By focusing the stack to the different reviewers you can avoid ambiguity about "what a person is signing off on" in the stack.
aside: one thing that would be great for github reviews is the adoption of change ids such that comments persist across reviews with a rebase workflow.