It’s not a new literary device by any means. Most authors who do alternating POVs do third person limited, though, not first. I think first person is difficult to pull off with multiple POVs as most authors end up inadvertently making different character voices sound the same when constantly writing “I” throughout a whole book. William Faulkner managed to do it very well in several books, though, most famously in As I Lay Dying.