Treating babies like adults makes them, in a sense, your equal, which is where I think the theory loses the last of its credibility. In order to raise them, guide them, and (gasp) discipline them, there has to be a clear line of who is really in charge. And if they're not clear on that as infants, good luck when they get older.
When it comes to discipline, many parents have taken a large step backwards, and technology is to blame. In this day and age of smart phone journalism, YouTube, Twitter and Facebook shares, parents have become wary and hesitant of punishing their children in case their actions at any moment are recorded and uploaded to a willing audience in a matter of seconds.
My boys were keeping score over everything and it drove me crazy. I was officially on strike. This meant I would be doing nothing. If they wanted food, they would have to prepare it, if they needed clean clothes, they would have to wash them. If they needed something at the store, they would have to walk to the store to get it. They would put themselves to bed. There would be no fun outings until the strike was over.