CORDIC is more accurate, but takes as many iterations as you have bits of precision in your angle. Another demo called Warp in this contest used pipelined CORDIC to do atan2 on every pixel to create a tunnel, which is super impressive.
Yeah, it is exact in this specific circumstance. But yes, it's exactly the same trick; I also enjoyed that video in my Youtube recommender feed last week!
https://www.youtube.com/watch?v=K9mu3getxhU&t=780s