CRF involves more machining steps, therefore it is "bad" in terms of manufacturing efficiency (think Model 70 pre-64 and post-64). That said, it is "good" in terms of selling rifles to people who want CRF rifles, and it is "good" in that CRF rifles have a record of being super-reliable. But once the buying public accepted push-feed rifles, CRF was doomed from a cost perspective.
The other cost-saving feature introduced in the 1960s was the "fat bolt" feature, where the locking lugs are machined into a large bar rather than being forged onto a smaller diameter bolt (think Mauser 98/Win M70/Rem 700 vs Weatherby Mark V). The M12 you are looking at is a "fat bolt" rifle. Nowadays, "fat bolts" lock into barrel extensions rather than locking into the action itself.
Kimber, Winchester, and Ruger (probably others I can't think of as well) offer rifles in both CRF and push feed configurations. You can also find older CZ and Zastava rifles in CRF configuration.