It sounds the same, that's the point. Languages like German and Italian for instance follow the same principle, everything is phonetic, nobody needs to spell anything (heck Italian doesn't even have a world for "spelling"), every letter always sounds the same all the time. Kids learn to read very fast, and you always know how to spell people surnames because they are pronounced "as you write it", with a 1:1 correspondence.

Old and Middle English were like that too, but then the Great Vowel Shift happened and now English still mostly retains the Middle English spelling with apparently random pronounciation rules.

Nobody devises a non-phonetic alphabet, when English adopted the Latin alphabet it was mostly phonetical. The issue is that the written language always moves slower than the spoken one, because written language lasts for longer.

It shouldn't sound any different, that's the point of the exercise. The sounds are held constant while the way of writing them down changes.

It certainly makes assumptions about pronunciations that mean for a lot of people it will sound different. "Meik" vs "maik" for a replacement for make for example threw me off for a bit (like, meek? Meyek? What does that mean in context?) Also I instead of Y is radically changing how I read that paragraph: "Year" going to "Ier" indicates to me either a pronunciation of "eer" or "aiyer" or "eiyer" instead of starting with that defined "yuh" sound.

It is using the Romance (i.e the original Latin) vowels. English got its vowels all garbled and messed up by the great Vowel Shift, so now every Latin vowel in English does not sound how it is supposed to sound. Heck they don't even follow the same rules most of the time, because English spelling is fucked up beyond repair. That's ironic because that makes writing English much more complicated, even though the language is quite simple to learn at a basic level.

A is /ei/ and lots of other sounds.

E is /i/, sometimes it's an open e, ..

I is /ai/, sometimes not, ...

O is always a diphthong, plain /o/ does not exist anymore

U is /a/, /ju/, ??

Y is there for the show, often it's used for /j/

English like German has lots and lots of vowels, while Latin and Italian have like, 7? The letters were supposed to have only one sound at most, but history clearly shows us that it's easier to reuse or adapt an existing letter than invent a new one (look at [ng] for instance, or [th] which became used mostly because nobody had types to print thorn and eth).