This is a variation exercise to build flexibilty in the hole. It requires hmastring flexibility and ab, mid and upper back strength. It is an exercise best done at light to moderate weight for position and technique.
Interesting!
Was hard to see from the front, but can see it best from the side!
I might have to give it a go, I'm guessing for me I'd be thinking about keeping my knees back and setting my butt down...
The only reason I have any squat ability at all is because I have the flexibility to open the hips at the bottom... Exactly what this movement trains. I might try it to see if I can open it up more and get deeper or get a stronger stretch reflex out of the hole.
We do a variation of this with a safety squat bar..... it gets REALLY fun if you hook the bands to the pins furthest away from you in the rack... this way the bands are constantly trying to pull you forward, forcing you to focus on keeping your chest up and sit back.
Personally, I don't see the point. Bring that stance in narrower than shoulder width and squat where your hips drop below your knees while maintaining an upright position (this is key) and that will work hip flexibility. It'll also allow you to lift maximal weight without potentially putting you in a position where you could get hurt. This is just performing front squats Olympic style.
This is like saying why not pull but put the bar 5 inches out in front. That will add some serious difficulty but that doesn't mean it's a smart thing to do.