It has several bad properties too. The algorithm they outline is exponential.

The challenge to make it run in cubic time will certainly turn it into a GLR or an Earley parser. (They can be formed from each other)

To me: it is just another way of looking at Dotted LR-Items used within earley parser. Earley parsers keep a state made up of grammar rules with a dot indicating where in the rule the parser is at.

(I wrote an earley recognizer that uses a derivative style interface to grammar rules.)

It has novelty, and some utility but it is not the holy grail you are looking for.