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I think this method is a great way to quickly strip a car you know you will do some body work on. I looked into it not long ago, as I was considering a paint job (that was before I bought my latest project). My takeaway was that can be a good way to strip paint, but is also messy. It will expose any "bad" areas that would need work anyway, and the person doing the blasting must be experienced in working with fiberglass.
The guys I talked to also said that even with a reasonably experienced person could still end up roughing up some fiberglass strands in "good" areas that would need repaired. That was more or less a CYA statement they all used (understandably) - but you should be prepared for that if you decide to go this route.
If you pursue, ask LOTS of questions and look for references from corvette or boat owners.