This is a very interesting and pragmatic design. I tried a couple of queries and the results were great for most of them, but not so much for esoteric ones, or for queries involving names, which makes sense according to the implementation specifics outlined in their blog posts.
I never heard of this company before, and I am very interested in IR technologies( https://github.com/phaistos-networks/Trinity ). I am glad they are trying and it looks like they have a chance for something great there.
Ahrefs.com is also working on a large scale web search engine, but other than their CEO announcing it on Twitter, there hasn’t been any other update since.