Not really, as it is presented now each little bit of information is on a separate web page, within a database. Hence is only useful if you know what to search for in the first place.
If you didn't already know about "second wind" for example you wouldn't even think to search for it, and even if you did you would only get the information on that, not on cover, or concealment or anything else.
So in order to render the rulebooks obsolete, not only would you have to know every topic to search for you would have to search for each in turn then copy and paste the information out.
Painstaking and pointless work, especially considering you could get PDFs of the rules of the internet before the books even came out.
If you just want the D&D rules without paying there are much much easier ways to get hold of them.