And why would any state want to throw away its voting power by adopting a proposal like this? It reall doesn't make any sense to effectively hand your voting power to other people.
You don't seem to understand how it would work. Each state law would only go into effect once a sufficient number of other states have passed similar laws as well.
Let's say that the 11 biggest states (which collectively have 271 electoral votes) all decide that they are being screwed by the small states in the electoral college. If those 11 states all decide to vote as a block for the popular vote winner in every election, then the popular vote winner will always win. So I don't think it's as simple as "handing your voting power to other people". You're also taking away voting power from other states.
I understand the proposal perfectly well. It's a crazy and unconstitutional scheme to subvert the voting process without getting a constitutional amendment.
It's certainly far worse than the present system, whatever its shortcomings.