This is a "poor man's" form of interactivity. It's suitable if
- refreshes are occasional,
- the delays between updates many seconds long,
- and updates are unidirectional server -> client (though bidirectionality can be kludged).
I've successfully used the technique in production apps, but it will become more-or-less obsolete as soon as quality support for WebSockets becomes simple and reliable.
As of Summer 2013, WebSockets with Python and Flask became reliable enough. flask-ws-example is an updated example that uses WebSockets and Flask.
Even as of mid-2017, Python's multi-threading support remains piecemeal. Projects like Jupyter show that WebSockets is fully feasible for sophisticated project teams. It remains slightly outside the grasp of a single, simple library and set of support modules that works across both Python 2.7 and Python 3.