Sure Mack it would be the same; the top just keeps the humidity very high so the water just doesn't evaporate and it is also handy to hold the cuttings up as well. I guess if you did remove the top and suspend them it would more resemble a hydro setup.
I intially started with like 4 in a quart container just to check it out and now have added 4 more holes about 2" apart; I hadn't read Epicurus' repsonse yet but it looked right

But my next step is to get another unit and pack those puppies in and see where the cut off is density.
Nah the roots will get plenty of air from the airstone / bubble curtain, etc that you have in there; just keep them bubbling... They'll get nice and white
Grow On
LB