Thoughts.
In principle, I am not opposed.
In practice, I see problems.
Most notably, many readers won't even read 10K stories, let alone 60K. So you're basically limiting your readership significantly if you publish at that length.
And breaking it into chapters makes it easier for readers. There's no bookmark feature so there's no easy way to mark where you are if you leave off in the middle of a long story. With it broken into chapters, you can go chapter by chapter and know which is the last one you read.
So I have to say that while I am not opposed, I am not really a supporter either, I see serious problems so would not use it myself. The site would really need some other features (like being able to set bookmarks within a story) for it work.