Funny, I ran into the same pattern just a few months ago!
In practice, I found it difficult for coworkers to read and understand so I dropped the idea.
Another limitation I found is that it breaks down when you start using inheritance. For example:
```
class _A: pass
A = NewType("A", _A)
class _B(_A): pass
B = NewType("B", _B)
def foo(a: A) -> None: pass
b = B(_B())
foo(b) # Mypy is not happy: Argument 1 to "foo" has incompatible type "B"; expected "A"
foo(A(b)) # Mypy is OK
```
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