To put it lightly and not to hurt anyone involved, I would say this looks quite bad!
Not only does it look very amateurish and awkward - feels very forced and completely out of place, it's mostly quite illegible in an unappealing way.

Is this a serious practice or kind of tong-in-cheek joke? Cause your link doesn't work.

I bet with a little more research into Hebrew calligraphy and (maybe) more skill this could make much more sense.

I don't know Hebrew either, but this does not look like Hebrew at all. Generally, I find the idea of forcing a style of a specific script on another one very awkward and does harm more than good. Instead of translating the specific style, one needs to translate the feeling behind it, so for this example I'd choose some Hebrew style that give the impression of old, antiqued type (or whatever you think blackletter stands for).

I had thought that the miniscules of the Hebrew logo were a fairly good application of the style to the Hebrew character. But reproducing the Latin minuscule - majuscule structure in Hebrew is a mistake.

Thus, I would see a Hebrew blackletter as being in "all-caps", but with the characters much less ornate than the capitals of Latin blackletter, being much closer to the lower-case of the example given, but in a larger size.

Awkward or not, it is a funny exercise. Or: it could be. I remember examples of Cyrillic and Greek blackletter designs being discussed here.
I have no Hebrew expertise, but I think the main mistake is in the distribution of stress in the letterforms. For Latin vertical stress is essential. For Hebrew horizontal stress is essential. This has been neglected. – I’d like to see some Hebrew type master executing this!

Much ado about nothing.