But yes, you're correct in this instance that it's not necessarily 'huge news' since it is highly similar to a long list of the Reformer (LSH-based), Performer (FAVOR**), FNet (Fourier-based), Routing Transformer, Sparse Transformer, Longformer (task specific sparse), blockbert, XLNet/xfmr-xl (slide + relative PE), BP-Transformer (binary partition), BigBird (global and rand attn), RWKV which is..., etc.
** FAVOR actually is innovative and different in this space, but towards similar ends anyway