I would say this is accurate.
I figure I should address the pump work subject and related because it's an important subject for bodybuilding routines. The following is somewhat unrelated but still somewhat related:
The pumps you get from the daily sessions will be decent / moderate, and depending on how accessory work is performed, in some cases can actually be really good. But you are correct, the pump work just isn't as intense as some might be used to.
It's just inherent to how the routine is setup, we're training these different movements in a single day and multiple muscle groups are being worked, but the guy who spends a whole session training his biceps is going to get much more intense pumps and sense of satisfaction in some regards. There is no disputing this, so I agree with you here.
However, the lifter who runs this routine will see more growth than the guy chasing the pump or flushing a single muscle with an assload of movements and single session volume, just because of how high the frequency is for muscle groups being worked (muscle protein synthesis will stay spiked very high throughout the whole week) and of course many other reasons (high weekly volume etc).
Anecdotally, something I have observed is that guys who spend a lot of time and volume on a single muscle group, probably aren't doing as much workload as we are on this program. On the daily, sure, but there sets probably aren't as intense as the sets we're doing on compounds on this routine, not to mention the frequency. The overall weekly volume / workload on this routine is probably a LOT higher than what most guys are doing or used to. It doesn't seem that way at times because the single sessions are actually manageable and the routine is sustainable, but in the context of an entire week, this workload is probably way higher.
The blood flow > growth theory has more or less been 'discredited' long ago by Soviet research (I have a paper on this one actually) in the sense that it is not as impactful as once thought. I'm not going to dismiss the pump as being a contributor to growth, but I think what we have on this routine is superior to chasing the pump, even for growth.
It was difficult to get adjusted to this at first but I prefer it now, the reason being because I like having a pump everywhere when I'm working out or finished working out instead of just one muscle group pumped and having everything else go flat. The guy who has a 'leg day' is going to get a much better lower body pump, but everything else is going to go flat that day. We don't have this problem, and I'm starting to prefer this to having one muscle crazy pumped and everything else flat.
If I figure out a way to make the accessory work more satisfying or to supply better pumps from it then I will post it, but a lot of it really just has to do with the variety of muscles being worked. Unavoidable, but still great for growth. I'm hoping the lifters running this program won't be bothered by this one over time once they see the excellent results they are getting.