I beg to differ: https://www.youtube.com/watch?v=OazFiIhwAEs
That said, I am really curious at actual lifetime costs of a system like this, and if it makes up for lack of efficiency by being simpler mechanically (leading to lighter weight, less maintenance costs, etc.) I think thats going to be the big thing that determines if this is a viable commuting option vs. rich person's toy.