It just seems like it shouldn't be that difficult to do, but yes scarring could be a concern. Ive seen pictures of before and after for a buried penis and it's a very impressive result, although that's for an obese patient.
(Here are those pictures)
altermd.com/before-after/hidden-penis/page-4/
Im probably around 20-25 percent bodyfat. Not that bad. I can see the difference it makes when I pull back the skin though which means there is more penis underneath there that isn't normally visible. I don't know if anyone has tried something like this before but my naive thought was that it seems fairly simple to do.
I looked at the rejuvall pictures and the men there are not quite as overweight as the other cases I've seen although they have more fat on their body than I do. It seems like it's mainly removing fat in that case but yes the results looks impressive. Those cuts looks gruesome though. Hopefully they don't develop into a huge scar.