Interesting approach to customer acquisition. After taxes he'd be sitting on just over a million a year without working much more than 40 hours a week.
But maybe his pricing is predicated on the desire to not work 40 hour weeks?
I'm guessing the latter. You sort of win either way with that approach:
1. seek $1000/hour and actually end up billing 40+ hrs/week at that rate: WIN all the way to the bank
2. seek $1000/hour, but then end up billing a few hours/month at that rate: still WIN because you can cover your cost of living and still have lots of free time and energy for other things
But maybe his pricing is predicated on the desire to not work 40 hour weeks?