The business model makes perfect sense to me. This is essentially a modernized version of what most big companies are already doing to shore up engineering need

The business model makes perfect sense to me. This is essentially a modernized version of what most big companies are already doing to shore up engineering needs at low cost (they will go to some overseas consulting company and say "hey we need X devs with Y skills, we can pay them Z per hour. project will last T months.").