Interesting discussion. However, I have never seen such a contraption in over 50 years of my career. It is common to use a condensate pot with a level control device to override the condensate flow control, but only for exchangers with shellside steam condensation. So I think Pronab has the only such installation in existence. Often times with shellside steam, designers have tried to control exchanger exposed area by controlling the level in the pot. But it never works. I have fixed many of these installations. So, after more thought, my recommendation still stands. The purpose of the standpipe is to assure that there is condensate, not live steam, but, it seems to be unnecessary.
Pronab's installation won't show a level because the inlet steam pressure is sufficiently higher than the condensate pressure to suppress the level below the level transmitter range.
Bobby