Its nice that they are taking the initiative to experiment despite the low risk of the asteroid actually hitting Earth. However, I sure hope that they are careful and don't accidentally knock it into an orbit that causes a guaranteed Earth hit.
It could, however, excavate quite a crater that could become a very large water reservoir.
But I would prefer to do such major construction projects with nukes - the delivery time and positioning are much more controllable. Also, we have a whole lot of them sitting around and the freedom to use larger formats (they wouldn't have to ride on planes or missiles) could yield much cleaner ones too.
I suppose governments won't like the idea of civilians operating gigaton+ nukes, but that's something to be resolved between politicians and lobbyists.
And have no plans to return in less than a couple hundred years.