It is ancient wisdom, at least on the time scale of scuba. And really poor advice....Im not sure of when the no faster than your bubbles came out
If you're going to follow your bubbles, (1) follow the small ones, no bigger than 2mm, and (2) follow the new ones on each breath, not the old ones that get bigger and accelerate!
Bubble Speed
Scuba Diving Bubble Mechanics
In the table below, from Ksenofontov et al, Regulation of bubbles ascending speed in water, Materials Science and Engineering, V 492, 2019; note that 0.15 m/s is about 30 ft/minute, so only the bubbles smaller than 2mm are going that slow.