More control over your taxes. The strategy seeks to generate a renewable supply of capital losses you may apply against taxable gains, while keeping your portfolio fully invested.
The key advantage over traditional tax-loss harvesting: in a long-only portfolio, harvestable losses tend to dry up as markets rise and positions appreciate. By adding short positions, the portfolio is designed to seek to produce harvestable losses across a wider range of conditions, including bull markets, because short positions can lose value even when stocks go up.
The strategy doesn't eliminate taxes. It seeks to defer them, giving you more control over when and how much you pay.