I often record that way in the studio if I have a band in who want to cover a lot of ground fast.
There are plusses and minuses. It’s fast to set up subsequent mixes after the first song, but I find the best way to handle it after that is to save each song under its own .cpr name. That means you’re back to opening and closing projects once the mixing starts, but that’s no worse than starting off with each song as a separate .cpr.
You can delete the other songs in each project but of course DON’T EMPTY THE TRASH!! (Or at least, use "Remove form Pool)