The bit about translating LaTeX expressions into human-comprehensible math sentences is interesting and AFAIK should work on something like GPT-4. But that's just a case of technical translation. GPT-4 definitely cannot "rephrase the overall paper... simplifying along the way." GPT-4 can't even summarize corporate reports without screwing up facts and figures - why on earth would you try to use it to summarize new scientific research?
Stuff like this is why I'm so concerned about LLMs: this prompt doesn't work, and people using AI for this stuff is just automating ignorance. Very frustrating.
[1] I say "honest" because this prompt would probably do ok on stuff coming out of a paper mill - the problem is carefully stated original ideas. GPT tears original ideas to shreds.