The 'Chinese' Theory: For and Against

[ololololo]

The general hypothesis you are discussing is: you think it might not be a cipher, but rather a European who traveled to China, listened to Chinese doctors reciting medicinal herbs, and then used his own invented alphabet to record the Chinese pronunciations as "dictation notes"? Is this what you mean? Did I understand that correctly?

Yes  It is assumed that this is a recording of the subjective perception of the sounds of the Chinese language. 
You can also read You are not allowed to view links. Register or Login to view. to understand how this could have been implemented.