It's a way to go at least for rolling release. However, tw is looking less and less interesting than it used to 5 years ago now that all these shiny new immutable distros are coming out.
No, I am using fedora silverblue which is point release. But there are rolling release immutable distros like opensuse aeon/kalpa im pretty sure. Basically the system files are read only and packages are "layered" onto the system image through transactional upgrades. Most of the packages you want to install should be in containers like flatpak (for gui) and distrobox (for terminal). This keeps the base system clean and small and doesn't get "bloated" like other mutable OS's.