It's always interesting when people do something like this. Remember a few years ago when Radiohead did the same thing? In fact, I think you were able to download the album for however much you wanted (including for free). You always hear about approaches like this being a success, but I wonder how sustainable of a business model it really is. It strikes me as the type of thing that could have artificially high sales totals the first couple times because of the novelty of the process.
Not trying to sound cynical though, because these approaches are cool/refreshing, and Louie is awesome.
It's hard to put a ton of stock into it because Raidiohead and Louis CK are pretty much the pinnacle of what they do and are beloved by moneyed people from ages 18-45
who would be willing to pay for their favorite artists ideals to be proven correct. I'm really skeptical that it would work for most artists.