I like it. Not only do I think it looks pretty nice, it makes sense visually since it would be weird to scroll away the book title only to scroll it back in for the next page.
It would look a lot less jarring if the underlying body text didn’t move as well. Even in digital media, animations still work best when they model the physical world, which our brains evolved to understand. This is why even simple transitions look best when using spring physics vs linear easing functions.
This new animation breaks even the basic the mental model of a “page”. If the goal is to do away with skeuomorphism, I’d much rather have a simple push/slide animation without any shadow or fancy transition . Want the title permanently in view, put it in a top bar or floating element.