It sounds like skipping marriage and going straight to being divorced with kids.
Yes
The idea that is going to benefit anyone is bizarre. Have you any idea how difficult dealing with that situation is? Children shuttling between homes or cur off from one parent? Do you know how hard being a single parent is? Agreeing things about the kids? Updating financial agreements for changes in circumstances?
Raising children is a lot of work. I guess to complete the circle, children would pay the father back with interest or grand children when they grow up.