You shouldn't use this in a production web service--and the author says as much in the README--I think there are some great uses for this code:
1. Demonstrating how the Python import system works. There is a lot of nuance at hand that other programming languages (like C) don't have an analogy for.
2. Creating truly self-contained Jupyter notebooks. Right now, if I want to send someone a working Jupyter notebook, I have to send them a requirements.txt (or, better yet, a Dockerfile) for them to install in a virtualenv. This is too bad, because specifying the dependencies in the notebook itself is better for teaching purposes.