This is a very simple and effective way to allow people to upload sliders onto their home page slider without ridiculous constraints (as some plugins do) and without a lot of difficult instructions for the end user.
Obviously the simplicity comes with the caveat that you don't have a huge range of flexibility with it, but that shouldn't put you off. It has a great range of slide transitions to pick from also. The only concern is that you cannot have different settings for different slides. But that is really not a big problem in most cases.