It's odd that this exercise isn't more popular. There's less restriction on weight compared to dumbbells or kettlebells, and it's easier to do than the barbell sumo deadlift, where many struggle to maintain proper form and end up training low back harder than glutes.
This version allows you to lean forward, keep your weight on your toes, and power through with your extension. This activates the glutes better, and makes it more advantageous for athletic performance.
Arnold Schwarzenegger did a lot of things wrong. He performed endless sets of leg extensions thinking that he was "cutting up" his thighs. He believed that pullovers would spread the rib cage and pull-ups would widen the shoulder girdle by spreading the scapulae.