This looks like an advancement on the Presta valve, in that the snout on the nut would appear to make the stem core much less prone to bending, while the plain-topped cap is less likely to snag on clothing or on a cleaning rag, etc.

Hopefully it passes air going into the tube with the loosened nut in place, but I don't see the sort of notches that a normal Presta core nut has for that purpose.
Perhaps then the core is somehow backed up so as to not be vulnerable to being blown into the tube(?).
You could test this by collapsing the tube against the other end of the stem as you push the core inward.