I've heard of it. Tried it in the 70's. Instant Breakfast came out after this meal replacement hit the market and made a splash.
It's basically a powdered meal replacement diet. They also have powdered soups and such. If you can go w/o food for 2 or more meals a day, then eat one small meal as a third then this might be ok.
Everyone needs to find what works for them. I count calories, weigh and measure my portions and eat no white. (sugar, flour, rice)
This is what works for me.
Good Luck!