It makes sense. Hit a bass note then a chord with a downstroke and an upstroke on the single first string (now tuned like a fifth string). Here's the problem. The high G then becomes part of the chord in the downstroke. It doesn't have the separation of the high G from the rest of the chord. It might work in a group where other instruments mask this.

The sound of a plectrum is markedly different from fingers hitting the strings. Not so much using fingerpicks.