I'm certainly not claiming to be a "real physicist", whatever that is, but I'm involved in the project (I actually named and continue to work on the "token-event graphs" that Max Piskunov developed for his local multi-way systems), and I don't think the project has convincingly shown yet how the basic ingredients of Hilbert spaces, complex amplitudes, operator algebras, density matrices, etc. are supposed to work. Which to me is an extremely important first step. I think we'll fix that, though.

I think his stuff must be in conflict with standard quantum mechanics, since his systems can be simulated with a polynomial number of steps per "generation". That means quantum computers won't work, since they can implement algorithms that are believed to have super-polynomial complexity on classical computers. Granted, quantum computers are a rather extreme prediction of QM and we don't really know whether they can work, so the discrepancy is ok if he can still explain things like the double slit experiment. It's ok to say standard QM is non-physical at the level of quantum computers. I didn't notice if he comes out and says so though.