So this new system saves about 2% of effort, which is large savings for competitive cyclists.
For 99% of cyclists, though, it doesn't matter. The overwhelming part of your work goes into air resistance, then rolling resistance at lower speeds, and probably the chain in last place.
In the last few seconds of video the mechanism can be heard -- oh boy, it is loud. The pawl in bikes can range from nearly silent to annoying, but this one seems to be even worse.