This is not a bad idea, in principle. Not at all.
But after reading the product description, and watching the demo video, I can't help but think that they're not being fully transparent about what makes this pan knob different from "the stupid pan knob in your DAW" (this is a direct quote from the demo vid).
So all it's actually doing is centering (i.e. not panning) any frequency below the cutoff frequency. In other words, it's keeping the "bass" (bass being defined here loosely, because you could choose to center everything below, 250, 500, 750, 1k, 2k etc) centered, while panning the frequencies above the cutoff frequency.
I already do this. I bus together mid-range instruments (like the guitars, in their example) to a mids bus, and then center the frequencies below 100 (or 200, or 500 - whatever is appropriate for the song) using a stereo imaging plugin (my go to is Stereo Tools by Sonalksis). Same exact outcome. And there is even a free plug that does the same thing - https://www.kvraudio.com/product/a1stereocontrol-by-alex-hilton-a1audio
So, again, not really a bad idea, in principle. And you could even use this very plugin on a bus (center panned, with cutoff frequency set to you choosing) to achieve the same thing.
I'm not trying to discourage anyone from buying this (especially at the very fair intro price). If it's as low-CPU as they claim, it could just be an alternative way of achieving the same outcome. And some people may very well prefer the workflow that this plugin allows.
I just think they should be more transparent about what it actually does.
My two cents.