That's one of the widely used approaches. The original video in this thread (two and a bit years ago) uses that approach.
If you've got plenty of money you can put the beer in a low pressure container, so the alcohol boils off at a much lower temp. Most of the macro brewers use this approach for their zero alcohol versions. I haven't tasted one after the boil off approach, so don't know how much it changes, but most add something back into the beer, which suggests it's a decent effect. One of the macro brewers here was mentioning hop extract as the post alcohol boil off addition.
Others use different yeast that create far less alcohol and have a lower alcohol tolerance. Some halt the fermentation through temp or preservatives and a bunch of other producers are very coy about what approach they're using.
I find the brewing side of this fascinating. Far more than the product it creates.