Some truths about dieting:
1) it's worthless without exercise.
2) losing weight doesn't mean you lost fat.
3) if you're eating less you're doing it wrong (proper dieting is about raising your metabolism not trying to stay below it).
4) if you're cutting out entire food groups you're doing it wrong.
5) the most powerful & effective dietary supplement in the world is water
1) That just not true. Infact some studies have shown that because your metabolism increases your appetite increases right along with it and there by either causing a plateau or even weight gain.
2) True but even if you lose muscle with fat it's still better than nothing at all.
3) Eating less is always going to work better than NOT eating less. Although if you pair it with exercise (and manage not to fall into the higher metabolism/eating more cycle) then that would be optimal.
4)I agree
5)I'm not sure what this means, exactly, but I would probably agree as water is pretty damn essential.
@OP Eli's right though, this is just a gimmick, all your really doing is cutting calories. Even if you eat a big juicy steak your still cutting out the bread, fries, potatoes that go with it and all the other simple carbs you eat throughout the day that is usually just empty calories.