I like it too - as you can see, it takes up a lot less space than ramps and is easy to do. I could easily have used another grid with a bit of coroplast where I used the hammock, but I needed a place for the hammock anyway.
ofc you could save even more space by doing what some others have done and putting the next level 6-7 squares up instead of a full grid height. I just don't really care about the bottom level of the cage being cluttered because my bunns spend most of their time in the cage chilling on the third floor where they have the best view and because they have a huge attached run so they don't really *need* space in the cage.