Similar but I think that using SC bindings makes more sense.
Right now we have a hard-coded permission system.
Implementing a database hardcoded approach would just extend a tiny bit the options. What if I want to store my permissions on a file? Or what if I want to implement a custom module that spits my permissions.
All in all, I think bindings(which cover DBs) make more sense and results in a more Wapplery way.