It's got a high house edge almost 5x bigger than regular craps. It's even higher than the house edge at roulette
Here's some info from the Wizard of Odds site:
Crapless Craps
In my Ten Commandments of Gambling I advise that you avoid gimmicks, and Crapless Craps is an illustrated example. In this game the player can not lose a pass bet on the come out roll. If any number other than a 7 is rolled on the come out roll, then it becomes the point. What you are giving up is the sure winner of 11 on the come out roll. To the mathematically challenged, it may seem a good deal, that you are only giving up 1 sure winner for 3 sure losers. The catch is that the probability of hitting a point of 2 or 12 is only 1/7, and the probability of hitting a point of 3 or 11 is only 1/4. So, the player is not gaining much on the 2, 3, and 12 since they will likely lose anyway, but is giving up a sure winner on the 11 for only a 1/4 chance of winning. Overall the house edge on the pass bet in crapless craps is 373/6930 = 5.382%.
More information can be found here:
https://wizardofodds.com/games/craps/appendix/5/