A friend had a commercial paper tape reader (don't recall who made it) from the S-100/8080/CP-M homebrew era built exactly like that. It was the 'inexpensive'

A friend had a commercial paper tape reader (don't recall who made it) from the S-100/8080/CP-M homebrew era built exactly like that. It was the 'inexpensive' version (they had motorized versions), and was finicky but worked OK for small amounts of code. CP/M actually has a built-in papertape reader device in bios called RDR: (tho it was often repurposed for other kinds of devices).