Canoedogs;
As Izzy said right away, it is not a new idea.
It is an very old idea in Japan too, but it is because of all the plastic bags that the Japanese Gov't is pushing it for modern times.
Notice that on the Gov't page it is their Ministry of the Environment who published it.
They have a huge problem with the cost of making plastic bags and they don't have any way to deal with them as garbage.
But I did not post it for environmentalism.
I just thought it was a good trick to have in the back of your mind in case you needed to bundle something up to carry it.
Any squarish piece of cloth will work, a bandana, a tent fly, even an old bedsheet.
I was using a square of left over rip-stop nylon to try it out at first. It would work just as well with a scrap piece of Tyvek.
About your comment on speed, I HAVE tested this and it is at least as fast as stuffing and then trying to carry a bunch of plastic bags, much stronger too. (I did get some weird looks from the check out girl, but I think they were curiosity and surprise.)