This sounds like a bad way to launder money, the logistics and scale issues make it impractical. Besides I doubt transferring $→ETH→DAO→ETH→$ is adding any extra obfuscation compared to $→ETH→$.
For what it's worth, I follow this space closely and have seen several recent things that look like money laundering to me that I won't name- This project is not one of them (though I have other concerns with this project)