This is great -- all the way up to the point where you have to hold and drag. The usability on a laptop goes out the window as you realize you can't accelerate past the edge of your touchpad. Getting to the top item in the menu -- maybe even the most important item -- is extremely hard. You rapidly become limited to the number of items you can have in this menu. Tap-or-swipe-to-open, and tap-or-swipe-to-close have ra…
On a non-Apple trackpad, I'm sure. Apple / macOS has had "3 finger drag" for a good few years now.
With it, there's no clicking involved: you put 3 fingers on your trackpad and move them and it's a drag operation. There's even a timeout / grace period before the drag is actually "committed".
You can also flick any one of your 3 fingers and it will drag + move your cursor with inertia.
And before they introduced 3 finger drag, there was always a timeout when doing tap + drag to account for running into the physical edge of your trackpad.
Having said all that, yeah I agree this isn't a great interaction on non-mobile devices.