Aside from what people said about screen readers (which at least makes it a bit better than tables) this is still a bad layout.
Here[1] is a revised edition of a book I read in 2006 about this topic how people often just replace all table elements with div elements and call it a day instead of using all the options CSS provides. Another topic was using all the tools the browsers with the best standard support gave you while still providing a more limited, but at least usable, version for browsers which hadn't implemented some features (yet). Even back then you could make pages which read well if CSS wasn't available and were visually appealing with CSS applied and today almost any browser has all these tools available.
Here[1] is a revised edition of a book I read in 2006 about this topic how people often just replace all table elements with div elements and call it a day instead of using all the options CSS provides. Another topic was using all the tools the browsers with the best standard support gave you while still providing a more limited, but at least usable, version for browsers which hadn't implemented some features (yet). Even back then you could make pages which read well if CSS wasn't available and were visually appealing with CSS applied and today almost any browser has all these tools available.
[1] https://stuffandnonsense.co.uk/transcending-css-revisited - there's a free online version available