Before taking a look at this I would encourage anyone to look into Michael Landy's Break Down[0][1][2], where the artist first cataloged and then destroyed everything he owned (except for a pair of overalls) including his vintage saab and all of his correspondence.
That work at least has the weight of a real gesture. The linked work seems (generously) fairly banal by comparison.
Why would he have to destroy it all? Couldn't he give it away to someone who might need it or at least be able to use it? Just seems like a bit of a dick move all in the name of "art"