The cool thing about this is that we could actually use more efficient language models (think GPT 3.5 instead of GPT 4) as the core language model and achieve a much higher level of problem solving capability with this loop. People are already on to this idea with things like baby AGI but I don't think anyone else has defined the exact structure and how it describes consciousness yet as I think I have.
Edit: there are also things that I've been able to nail down like short term and long term memory that are key to consciousness as well.
Edit 2: Note that conscious minds do not solve in real time, after giving a human a problem to solve it has to spend time thinking before it can come up with a solution. Read: consciousness is not feed forward.