A Color Monobath Developer Formula

I found a formula for a color monobath developer in a book, which claims to develop and fix color negative film in a single step at room temperature in just 2 minutes. I'm quite skeptical about this, but I currently don't have the means to test it. I'd like to hear everyone's thoughts on this formula.

Monobath Developer Formula

• Water: 750 mL
• CD-4: 4 g
• Anhydrous Sodium Sulfite: 10 g
• Anhydrous Sodium Sulfate: 60 g
• Potassium Bromide: 3 g
• Sodium Hydroxide: 52.5 g
• Sodium Thiosulfate: 25 g
• Add water to make a final volume of: 1000 mL

There's no way that the formula as stated will produce anything close to correct C41 development. However, I don't doubt that there will be some kind of color negative image and that it may be satisfactory for some users. Then again, even if that's the case, I struggle to see the advantage of this approach.

Off the top of my head I don't see a bleaching agent so presumably it's gonna result in something like a bleach bypass?