This is also how Trespasser dealt with far geometry in 1998 https://en.wikipedia.org/wiki/Trespasser_(video_game)#Develo...
Started top be used again with introduction of directx 9.0 under a name Impostors http://www.tommironty.fi/screenshots/Imposters/dynamic_2d_im... https://software.intel.com/content/www/us/en/develop/article... https://developer.nvidia.com/gpugems/gpugems3/part-iv-image-...
here at work in COD warzone: https://www.youtube.com/watch?t=691&v=mvdTtl27TpM
Temporal AA is the most general and mature solution, but at the same time, many gamers hate it due to introducing some blurriness through imperfect resampling (and makes some very small population motion sick) - just web-search for "temporal antialiasing reddit" and see the sentiment of many users.
Maybe it technically could push more polygons, but it looked like crap.
But yeah, I agree that their tech seems to be a clever way to index and access large amounts of point cloud data, allowing them to stream from disk just what is needed for the current view -- a clever database more or less.
But for all the claims they made about how it will revolutionise everything, their demo's were pretty damn bad.