No, it is not. While this will certainly help your client side app get indexed, it is not 'great'. Other commenters on this thread bring up a number of valid concerns, but in my mind it comes down to two very simply things.
One is that when you are fighting for the top spot in organic traffic, this won't cut it. Off-page SEO is more important than on-page optimizations, but it on-page optimizations still have value.
The other issue is that this approach assumes that the client side rendered view at a particular hash is exactly what should be initially rendered on the server side. While this could work in some cases, it is my experience that it either creates a weird user experience and/or you end up doing hacks on the client side in order to ensure PhantomJS captures the right html.
This is a fine solution for some use cases, but I really hope that the community doesn't think this is the future. This is a temporary hack until we get a good server/client rendering framework in place OR all search engines evolve to capture pure client side apps without any of this.