The interesting part is that what is hacked is the external feedback loop between breathing and perception. The loop through the acoustic channel, likely completely different from whatever way(s) you have to internally perceive your breathing. But apparently the brain does not trust only the internal sources, and correlates them with an independent channel of sorts.
One of the techniques used to develop skill at meditation is to bring perception of your breathing to your conscious mind. So early on when learning to meditate you might be asked to focus on and "note" each breath as something that is happening in your body. It's a way to practice paying attention to the unconscious processes of your body and eventually your mind.
I can see how something like this might be an aid to learning how to do that. For what it's worth, you can actually hear yourself breathe in a quiet enough room, and you can certainly sense your own breathing as a "drawing in" even if you can't hear it.
I think meditation is a useful tool for slowing down your thinking and reducing the influence of your irrational self on your rational self when you're trying to think about situations which make you anxious.
