An alternative to snapshots

I just read a brilliant article from MonrealAnalytics:

After reading this, it occurred to me that this same incremental design, potentially, could be applied as an alternative to using snapshots, leveraging the use of the lag() windowing function to retire old rows. In a cursory review, In summary, this incremental (delete+insert) approach seems to have the the same functionality as a snapshot, with the added benefit of customizing the columns to whatever you want.

I would be interested in what others think of this, (and also dbt).