Yes, you have a good point but there are compromises with all rigs. After all, high aspect ratio conventional rigs have a higher centre of effort than low aspect ratio ones, but the pros generally outweigh the cons.
Maybe you can get away with a smaller area overall and shorter mast with this rig? (area up in higher wind strength, deep camber for starting from rest/accelerating) Maybe you can't - but they certainly look cheap to try out!
There was wind tunnel work done some years ago by C.A. Marchaj on various rigs for a paper "Planform Effect of a Number of Rigs on Sail Power" and this 'crab claw' rig seemed to stand out from the crowd:
I think the graph shows that the bermudan rig edges ahead to windward (which I imagine will provide a higher ultimate top speed for a land yacht) but does not provide nearly as much 'grunt' at higher angles of attack (where a landyacht would be when accelerating from low speed).
To be fair it is probably the case that the bermuda rig tested was a pretty dated and water based type - I would expect a modern land yacht rig to be considerably better, especially to windward.