I think it's a great idea, especially for horses that get a lot of hard feed or whose owners can't necessarily feed at the same time every day due to work, etc. It looks like it would make "little and often" very easy
We have something like this for Ahab. It hangs in the feed room with a short tube, which delivers feed into a bucket in Ahab's stall. We have the quarter cup feeder, so he gets 1/4 cup of food 12 times a day. You can set it up to deliver multiple quarter cups per feeding, so you can give him a ton of food, but the maximum number of deliveries per day is twelve. You can spread the deliveries out,or bunch them up, whatever you want.