The effect is miniscule and this arrangement won’t overcome any inertial effects.
Not in the vertical plane, but it will in the horizontal plane with all that extra hardware to flap about. Unlikely to be desirable.
All it appears to do is add friction into the vertical movement and, likely as not, variations in the leverage as the arm rides over warps (albeit this may be some kind of attempt to compensate for the aforementioned minicule effect).
Frankly, it appears to be twattery of the highest order.
The Audio Innivations Delta Inertia is the only true counterweightless arm I know of. (pmac has mine)