You could easily build that spring-rod setup with parts from mcmaster, however....installing it would be a little tricky and removing it would be a lot trickier.
Here is mcmaster's ground shafting....I would use 300 series stainless also known as 18-8 stanless....affordable and corrosion resistant.
17-4 and 400 series are very hard to work with (17-4 doesn't play well with some other stainless types and 400 series is harder than woodpecker lips)
https://www.mcmaster.com/#=19s2qmw
...and drilling straight holes that long would be challenging....even with a drill press or mill.
I like the idea, though......beats the pants off of a piano hinge.
Perhaps a delrin (acetal) 3/4 x 3/4" strip screwed to the edge of the shelf with the long holes.......easy to machine and slippery....or perhaps two separate strips, one on each side......
..just thinkin'
You could always drill a hole for the rod through the left side of the cabinet; that would allow for easy assembly and disassembly, then pop in a plastic finishing cap (also available from mcmaster) which would be visible from the outside.