Highly annoying to see ideas that were - solidly - discredited decades ago come back in a slightly different guise for a re-run.
Based on past performance I predict that this setup will right up until the first major breakage, after which it will be uneconomical to even salvage it.
The temptation of the tides is easy to understand: the power is immense, it is essentially the power inherent in the gravitational attraction of the moon orbiting the earth conveniently transferred onto a moving fluid. So on paper it is trivial. But that's where it stops being simple. The forces being immense is also a force that tries to destroy your gear. Corrosive salt water is the nastiest working fluid you could pick outside of acids. The wind & the waves combined can really stretch the limits of engineering (I've seen a minor bit of water hammer effortlessly flip an 8 cubig meter concrete cube right across a dam, like a 2x2 lego brick only slightly larger and heavier).
The 'head' compared to most hydro installations is limited (though in some locations it can be of usable height), the flows are hard to trap without interfering with the rest of the environment and so on.
As a 'mere matter of engineering' it is probably one of the hardest jobs you could tackle including going to space, the ocean is an extremely dynamic environment and near the ocean shore that is even more true.
And finally, to be economical such an installation has to work for a very long time after initial deployment because it is very hard to work on once deployed.