It's not cost-free. It comes at the cost of greatly increased latency. 29.9 seconds per token with Llama 3.1-70B. This is from Table 1 (pg 8) of the paper.
The actual goal of the article is to highlight that we can optimise the overall speed by decreasing link latency. Yeah link latency, because it's not 1 machine but several low devices that are used together to serve the 70B LLM.
In other words, if I want 100 tokens of output, do I have to wait 2990 seconds? If so, the terminology seems unnecessarily confusing.
The number of layers, and the amount of time spent in each of them, makes me think any benefit from pre-loading the layer ahead is negligible.
You really need the entire model on device to consider it performant.
For vanilla models, you always use all the weights. That isn't true for mixture-of-experts, though, and in that setting, your approach has merit.