Most use cases or apps don't deal well with read latencies in the thousands of seconds... From quickly reading the source code; it doesn't do any particularly clever optimizations. I'd file this in the "IP over pigeons" category.
For instance, think about a LaTeX install. The user could, in a matter of seconds, download a torrent file to a multiple gigabyte repository of all of the fonts an modules that are available. They then run latex on whatever document that they're trying to render. The filesystem would download the libraries as needed, so everything the user needs would be available, but she wouldn't have to wait while downloading a bunch of libraries that she didn't need. Nor would she need to decide before hand which libraries to install or ignore, as everything would be on the filesystem. The user experience of waiting for the executables and base libraries to download whne run for the first time wouldn't be great, but arguable better than waiting for the entire distro to install in the standard case.