Extensively well documented, and I'm sure it works great, but it's an incredibly overcomplicated and magical solution that still relies on the awkward implementation of FindBin, so I cannot recommend this approach. In my opinion you should always declare exactly what directories you wish to include rather than leaving it up to magic libraries - this is how you get vulnerabilities. See lib::relative for a straightforward method that relies only on the location of the file it's used in, and use Carton for installing project-local modules.
A welcome addition to the "FindBin" idea. I primily use FindBin for the purpose addressed here -- to find a perl library directory relative to the script being called. This module allows me to replace: