I’m told this is fairly common in Texas. Four tires with extended hubcaps (the spare has one, too)
It seems like it might be a little limiting, like growing your nails way too long or maybe walking around with an inflated truck tire around your waist. Forget about fitting into a tight parking place or squeezing past someone turning left at a stop light.
People probably won’t drive too close to you but if there was an accidental sideswipe your pointy hubcaps would be toast anyway. I am not surprised that I haven’t seen these in my area of NJ/PA. They wouldn’t last a day.
A better idea would be retractables. Suck ’em in when you need to.
And where are blades that will rip into the car next to you that gets too close?