After looking into it, it does seem that it's simply a hardware implementation of SNN's. And reading from the wikipedia, it does seem that SNN's are less hardware intensive anyway so I am now wondering why make hardware specifically for it if, as you said, GPU/CPUs can run it no problem. I'm also wondering why they would double down on hardware when from cursory research there isn't a holy grail of training like there is in ANN's.

Still, looking at SNN's was pretty interesting.