I haven’t done it, but now I want to, thanks to your question :)
I think it could look really cool. Here are some pieces I stacked up in that way after calibrating my saw, and cutting several pieces to see how exact they would all be (very). You can end up with a very nice quartersawn zebrawood look. I didn’t even know zebrawood existed back when I took that picture. That’s just construction grade ply from Home Depot, maybe 3/8” thick. I’d glue it up with my usual stuff – Titebond III – and crank it tight with some Bessey K-Body clamps.
It reminds me of Gehry’s cardboard chair designs. They can get pretty pricey. I’d be curious to see the plywood stack finished with a glaze that brings out the different reflectivities of the plys – something that provides a smooth surface.
Also, as a note, it looks like you posted this into the LumberJocks.com Site Feedback forum. This one should be for talk about the site itself – suggestions for improvements to the site, bugs, and that sort of thing. Probably better to post this kind of thing in the Woodworking Skill Share forum. You’ll get more hits, and more people like me, trolling the other forum for ideas, or to help out will benefit from your questions. You’ll get more feedback, too.
-- Gary, Los Angeles, video game animator
