Walter, Actually his system can still "work" if the Neutral isnt bonded to good old Mother Earth, but thats NOT a good thing (as you suggest) as it can help to reduce stray currents and/or possibly leave it more prone to damage sensitive electronics if its NOT bonded to earth as it should be and is required.
WE bonded BOTH the HV Primary as well as LV Secondary Neutrals at the pole transformers and again at the service entrances, of course. We wanted the system at one common reference which Mother earth supplied, albeit not perfect.
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