Earlier quoted context omitted.
It is as silly as bogosort. It's queue-sort. You put the elements into a priority queue, then remove them in property order and put them into a list. Here you just use the inherent queue of a timer system, which wastes time between extracting the next element. That's silly and inefficient, and disingenuous in trying to hide the queue.
Chronosort is closer to radix sort, as both are O(n) if values are bounded. Queue-sort (aka heapsort) is O(n log n).
And with minor O(n) modifications, chronosort is fixed time too!