This is a  good way to demonstrate reather than just talk about the relationships of ISO, aperture and shutter speed. I see this working pretty well in a class environment where everyone does not have a suitable camera. Honestly, for introduction, this would be faster and more class friendly than working with actual cameras. 

BTW, using manual mode it will also reasonably simulate results of rules of thumb like the "sunny sixteen"

 

A trick here is to get shallow dof and keep the pinwheel blurred...now that is a trick! It is easy to realize  that  light and action require compromises in what you can do.