You're Correct!

Ready Golf is an approach to golf which was instigated in response to the growing problem of slow play across the world.

It sees players in a group hitting shots when they are ready rather than waiting for partners who may be further away from the hole or unready to hit.

The Rules of Golf and general etiquette set out the order in which players should play and is the most common to all experienced golfers. On the tee, a player with the honor hits first (either they are first on the tee off the first hole or they have achieved the best score on the previous hole). After that the player within a group who is furthest from the hole hits first.

Ready Golf says that the player who either reaches the tee first or their ball on the fairway/green first should play when ready, even if they are closer to the hole than their playing partners. This in theory would stop people waiting around to hit shots.
Some people find Ready Golf is a good way to speed up play as there is no ruling to penalize playing out of turn although in normal circumstances it would be considered poor etiquette. Ready golf can be adopted by a group of players and even in tournament play if ordered by a clubs competitions committee.

Ready golf flies in the face of the games tradition and could rub some people up the wrong way! However it sprang from a desire to eliminate the sometimes eye watering time it takes to complete 18-holes. Some competitions at difficult courses can now take up to 6-hours to complete, a ridiculous amount of time. However, the argument could be made that this has little to do with order of play but more to do with tougher course design and a tendency for players to ponder over their shots. Ready Golf could also put some people off the game, especially beginners, who may not want to play with better golfers for fear of holding them up.

Ready Golf is a way to speed up slow play which may never catch on but is a valiant effort at helping stop its occurrence.

Not quite. Ready Golf sees players approach their ball as normal but the first person to define themselves as ready then hits. There is no need to race around the course as Ready Golf is simply designed to speed up play once players get to their next shot.

Its a relatively new idea but could gain in popularity because there is no doubt that something must be done about slow play across the game, on both the professional and amateur scene.

Its frustrating for playing partners, people in the group behind, those who cant spend too long away from the family/work, new golfers, old golfers, junior golfers, female golfers, competition organizers, spectators at events and hopefully anyone else.