I'm not seeing the McGuffin here. It seems like flying that approach in "dive and drive" mode would be just as safe as flying it in "sorta VNAV" mode, to me. Conceivably...dare I say it...safer?
Maybe.
We dove and drove for years.
However, on the MD-88/90 we had to do a "double punch" technique because sometimes it would get a little "sloppy" and not capture the altitude correctly. So between the auto throttles being two little 'drama queens' (full power! CLMP! full power! LO LIM! all in the same sentence) and potentially lazy altitude captures, it makes it a wild donkey show for the passengers and turned out to be a bigger workload than:
1. Select and set the approach.
2. Dial the next 100' above TCH
3. Hit LNAV (or LOC)
4. Hit VNAV
(magic)
5. Land to revelrous applause.