Anki has two benefits: memorization and understanding. Memorization is what comes from going over the cards, which is what you allude to. Understanding comes from the process of creating the cards, where you think hard about the atoms of information in the text, and their interrelationships, and cast them into simple questions. Then memorization gives you a much deeper understanding than if you hadn't ankied the text.
I concur, what you describe is a very effective use of spaced repetition. It is different from what ‘ProstetnicJeltz described, where cards should take less than a minute to write — that describes memorization without first putting in the effort to understand.
