It cleans up the intake because the PCV system does pull up oil vapors and the oil coat intake bits.
In this case, that positive doesn't outweigh the negatives from this mod. The downside is increased emissions due to allowing blow-by (unburnt fuel) to escape to the atmosphere. This will marginally decrease fuel economy. It will also decrease fuel economy and horsepower by not putting a vacuum on the crankcase. This makes your pistons push air around on both sides of the piston (top and bottom). If the crankcase is in a vacuum, there isn't (as much) air to push, and it frees up some power. The vacuum will also help de-aerate the oil if any frothing happens. This shouldn't be an issue, but its never a bad thing.
Its only unwise to modify something when you don't fully understand how a system works and why it is there. Once you understand what it does and why, you can change it to your hearts content.