This is a version of Christian Berger's Cine Reflect Lighting System, which I believe he developed in the late 90s-early 00s while shooting for Michael Haneke. The first film he used it on was Haneke's 'The Piano Teacher.' (NSFL, btw!)
Seems like it's development was at least partially ideological, sort of a way to demonstrate a more environmental resource-friendly alternative to the orthodoxy.
For example, if you only need 1x powerful HMI and the emphasis shifts from cutting light to adding small reflectors, then theoretically you no longer need a tow plant, heavy cable runs, power distro, or even a grip truck. While this might work on a small independent film, it won't work on larger projects where the Electric dept still need to run power to the Mohos or wherever HMU and Production is happening, plus video village, etc. For that reason, I don't think the CRLS system ever became mainstream. It's still a neat idea, but I wouldn't replace any of your existing tools with it. If anything, it would be cool to have a small kit to augment your existing package.