There is a great deal of prior art in aviation and automotive engineering for densified wood, which have all proven to be non competitive with metal.
Lighter, stronger, but not quickly adaptable to new designs or refinements.....the molds are large, complex, heavy, and expensive.
And a simple no go for beams is that they(wood) burns and steel does not, will instantly remove them(wood) from bieng used in most building codes past a certain hight, where minimum times for evacuation durring a fire can not be met.