Normally I tend to agree with that sentiment being a guitarist and all...... but.... in recording..... sometimes that is what is needed. You gotta do what you gotta do.
You have a threshold which the loudest instrument in the mix can not exceed. That alone, dictates that everything else must be lower than the loudest. Set the bass and drums first. Most of the audio power is going to be in those lower registers anyway.
Next bring in the vocals and be sure they are clear and clean. Then add everything else.
Use busses to group things. I often place the bass and drums in the same buss so that I can easily turn both up or down as a group one I get their balance set.
If you take your time and set the levels properly you will not have to resort to compressors to get the various instruments into the mix at "proper" levels. Guitars however, do use compressors for effect so I do understand that.
It is so much better to simply pop one compressor into the master buss to bump the entire, superbly balanced mix a few DB at the end. Truth be told, I rarely use compressors in the tracks and just a light compression on the master. Get your balance right and let the listener use the volume know to turn it up as loud as they want. Your job is to give them the source material in the mix that allows them to do that and have it sound good...I mean really good.... when they do.