I confess, when I first heard about this new system I didn’t see it as a significant change. But, I watched the whole video and now I am impressed. If you really want to understand why this is significant, you should watch the video but, first, you need to understand what the problem is that is being solved.
With bicycle hub motors you have to make a decision between motor drag when you are just coasting and regenerative braking. You want regenerative braking because it will recover energy but a typical hub motor with regenerative braking adds drag.
This solution addresses the issues with very minimal additional hardware.