Very interesting, and very clever design there! Seems to me that what we have is, the discs rotate such that their deep edge picks up the load and drops it back down in the water.
Imagine a Hoovermatic with two impellers on opposite sides of the tub. However, in this case the tub slants inward toward the bottom, so a small load that wouldn't engage with the impellers if they were perfectly parallel, will slide to the bottom of the v-shaped geometry of the impellers with angled axes as on the Maytag. Then the shape of the impellers engages the clothes, and there is no need to have the waterline above the top of the impellers.
Maytag definitely gets points for thinking of this one. With a bit of experience one can probably avoid the tangling problem that some have complained about. Too bad these are probably going to disappear; hang on to the one you've got there, in 20 years it's going to be seen as a very interesting development.