But it seems to describe something with some substance behind it.

It seems to be a way of melding gravity and Schrodinger's equation.

E.g. [link|http://www.iop.org/EJ/abstract/0264-9381/9/S/008|C Kiefer 1992 Class. Quantum Grav. 9 S147-S156].

Cheers,
Scott.
(Who has forgotten too much about QM to have a sensible opinion on the work.)