This is a good strategy for (U)LRM like Peking U or HSBC. Top schools in Canada, i.e., Toronto, UBC play the same strategy.
They used to hire HRM but found publishing is hard. Then they hire LRM with RRs. Admittedly this is a good strategy because LRM with top publications still find it hard to move higher. This is an equilibrium that both of the parties are happy. But need to mention this is not a HRM school like Peking should do. They should identify HRM in advance and publish at their school rather than “buy” the papers!