Just as a random thought, since this is being maintained - it might be worth looking at the new "linked inventories" mechanic recently added to the game. It might help as a means of moving items around using native code, as opposed to doing it through Lua, which is where this mod's primary performance hit is.
But to the broader point - yes, there absolutely IS merit to this sort of item in the game. While I can use vanilla Splitters to split and merge many/many belts, they're gigantic and not always reliable. This might work for a single massive facility with a main bus, but it doesn't work quite as well with multiple small facilities separated by train stations. Multilane Splitters works wonders for saving space that way.