I think for small backyard flocks it is a good method to utilize most of your feed, and I believe that though it does not increase the nutrient level, it make more of the nutrients available to the birds. I think that fermented feed smell somewhat better out the other end… as an interesting by product. It takes a few minutes a day, and you have to add and or mix from time to time. But I have the small amount of extra time available to me, and I enjoy watching my birds eat. Fits in well with my management style and the birds I keep.
I think it worth while, I am unaware of any down side whatsoever for the birds. If it is a chore, perhaps one should just use tube feeders and sleep in.
Best to you and your birds,
RJ