Trying sous vide techniques with an induction cooker
Make sure to clip the bags away from the bottom of the cooker, where it heats from. If a bag ends up flat against the heating surface, without water between, then it could heat up far past the water temperature and melt the bag.

Beyond that, if you're willing to stir reasonably frequently and it really does maintain the water temperature well, then you'll end up with a good replica of what happens in a normal sous vide bath.

That said, 10 degree increments are really large, especially for steak. See for example The Food Lab's sous vide steak guide - rare 120°F, medium-rare 129°F, medium 135°F, medium-well 145°F. You won't really have any ability to tune for exactly where you like it, though you'll be able to avoid overcooking.

So... does this work? Well, it depends. A few of the big benefits of sous vide:


Precise temperatures: avoiding overcooking, and getting it just right
No drying out: the food stays with whatever liquid it releases.
Hands-off: just put it in and forget about it til it's done.
Flexible timing: leave it longer? No problem.


You're getting some of the temperature precision, and the avoiding drying out, but it's not hands-off and the timing isn't really flexible since you're not going to want to keep stirring longer than you have to. To me, this sounds like a good idea to try sous vide, and see how you like the results. But it doesn't sound like a replacement. The convenience is a huge deal.