Why do you say that? You're joking right? OK no tube involved so there isn't a grid, no "meter" and it won't tune a range of freqs like a GD meter. He just mentions it works like one.
From the schematic it looks as if he measures the current through a 47 ohm resistor returning the oscillator to ground. If the coil is brought near another tank tuned to a similar frequency it should increase the current the oscillator requres and that increase is detected. That is the general principle of operation of a GD meter.
I haven't tried it, but it certainly looks viable.
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