It's just swapping one kind of effort for another, and one that's not so good, to be honest. I know it seems a good idea, but it's hard to find a drill that will hold a spindle thick enough to burr off enough hot fibres to make a 'coal'.
Honestly ? the bow drill's easiest, the pump drill is brilliant at boring holes through stone but it's really hard to get it going fast enough to beat a bow drill for the job.