This is the way reading WAS taught - THIRTY years-and-more ago!!
Unfortunately, despite Phonics teaching having been introduced several years ago, MANY SCHOOLS, still REFUSE to teach it correctly - whether through ignorance, or pig-headedness by HTs and/or class teachers, or they are so near to RETIREMENT that they don't intend to change their methods, I don't. The result is confusion and annoyance for Parents AND Children.
Fortunately, I did work as a TA in schools that DID teach it correctly, chucked out ALL the old books, and invested in new decodable books.
No matter how 'bad' the books are - and I remember Roger Red Hat, Billy Blue Hat, the Fuzzy Buzz, and other 'schemes' - you can still gain something from looking at the text:
look at long and short words; look for short words WITHIN longer words ('bed' in 'climbed'); look for words that are repeated, and count how many times the word occurs (Literacy AND Numeracy together!).
HOWEVER: if your child can get over the confusion, and not be too demotivated, it is STILL POSSIBLE to learn to read. no matter how 'bad' the books are!