Idk why this sounds like another business scientist with a lofty idea that will never materialize.
They are going to great lengths to make it compatible with the existing power grid (just replacing the heat source for current generators), re-utilizing abandoned mines and all.
So, would you care to elaborate why you think it would never materialize?
I'm not equipped to judge how difficult those problems will be to overcome in practice. Obviously this would be very cool if it bears out, but it's hard to tell if it will.
I just think of so many hurdles...I hope they make it. I originally wrote a huge reply explaining my thinking, but sounded like a rant.
If it works, maybe it can also be used to quickly bore the underground tunnels Musk has been working on. Could be life-changing tech.