Generous - or diabolical?

Richard Branson's idea that his staff can take holidays "whenever they want for as long as they want" seems to me to be a sort of flexi-time-max.  I've had my say on flexible working (see 13/2/07) and haven't changed my view and as far as I can see, Branson is relying on his staff seeing (and perhaps more to the point, being able to see) the big picture, and being able to assess whether or not their absence will damage the business. Which of course raises the question of whether in many cases staff would ever dare take time off.  And perhaps that is the thinking behind the whole thing?  Is this actually a clever ruse by Branson?