Joel, I think that is the impression I got. It is simple, mostly directed at getting centrist representation. It isn't really geared for including minority voices in an at large multi winner race.
Probably the simplist way to get half way there is to replace all members at the same time. This also may not be necessary for the following reason: our community is not very large. There are also organizational limits, which otherwise might lead to some kind of ballot box stuffing.
I'm still not conviced that having an election every six months is worth the extra effort. In the end everyone will serve one year terms, but we will have to expend half the effort. Working relationships will need to be adjusted every six months as new members join and have to be 'educated'. But again, this is a small community. Probably anyone elected will already have working relationships with the other members.
