It doesn't appear (at least on the website linked) to be particularly cheap - a full sheet of 20mm bamboo plywood is almost €300! You could probably buy 3-5 sheets of 18mm baltic birch for that price - hardly the cheap material they're claiming.
I bought a cheap chair made of bamboo once and it was very soft - it didn't give me the impression it would hold up very long. Perhaps some of the processing steps for plywood improve that?