While this is a wonderful technical feat, I think it's not nearly as playable. The video shows that it doesn't mix the gameplay sounds with the music track, so it pauses the music every time to play a sound (gun shot, door opening, item pick up, etc). This is really distracting compared to the adlib driver that mixes them together and so the music doesn't stop/start harshly. And IIRC, the adlib music is quieter then the effects, which also helps the music stay as background sounds. I don't think Id was lazy, just thinking about the full experience.
A lot of PC games worked this way. Nintendo games even temporarily dropped music voices (typically preferring the second square wave voice, then the first) to play sound effects. If you found it too distracting, presumably the music could be muted.
As someone who grew up on PC speaker, it's actually really good. The main thing is the item sound effects need some tweaking to be less distracting, probably just shorter. It might also do good to just skip certain unimportant sound effects completely.