There is a market for natural gas, they have a precise estimate of costs (including carbon capture) and their costs are lower than fracking. No new tech. No big upfront investments. Just deploy and get rich.
I hope this works. I also suspect that the inaccuracies of estimation will completely make or break this concept. If they can't achieve their theoretical efficiencies, or have other losses they didn't account for, the economics will fall apart.
This is the fundamental problem with almost all "green" tech. The economics aren't there. The cost of fossil fuels ignores the cost of cleaning up. If there was serious money to be made in green tech, there would be serious investment. It feels like we're turning a corner in seed investment - but that's probably more because of hype rather than market fundamentals.
Notably, given that assumption, any process that could be electrified, will already be electrified (because super cheap solar PV). And anything that can just use hydrogen will just use cheap hydrogen. So this methane won't be used for anything that could be done with cheap electricity or hydrogen.
So, you are correct, it's not worth doing this instead of rolling out more renewables, since this needs those renewables to both exist and be cheap, but they're planning for the world after the cheap renewables get rolled out, at which point they can provide cheap, carbon-neutral methane (and/or other hydrocarbons), for any use that isn't directly electrifiable (e.g. making plastic, space rocket fuel).
This only further increases demand for renewables, driving them further down the price curve.
It could be a closed source system too, for example, in industrial applications that need a lot of heat. An almost closed cycle system may be viable. I have no information about the speed of the reaction, but I guess systems can be scaled.
Also, a good amount of heat is produced in the sabatier reaction process itself, which can be used for other systems.
Conversion of atmospheric CO2 to usable fuel can become a cheap battery for solar plants.
Edit: Such a system already exists, even if as an idea.
https://www.carboncommentary.com/blog/2017/7/24/exytron-the-...