It looks like someone has rediscovered metabolic control analysis (MCA).
The analysis is exactly the same as MCA but uses different symbols and they focus on the unscaled sensitivities instead. eg the r symbols are the unscaled elasticities. The core equation (4) can be found in equation (1) of the appendix of the following paper, and I am sure its been published elsewhere too:
However, unlike the original MCA, the latest reincarnation doesn't include support for conserved moieties so as it stands it's somewhat limited. Note equation (1) in the above paper includes additional terms to take into account any conserved moieties.
What is more concerning is that the reviewers of the paper never spotted this duplication of work.
