Reading the rest of your comment, I'm not sure you did the math yourself...
> Assuming the full scale version delivers peak power for 11 seconds like the prototype
The prototype is a 4-storey tower (i.e. less than 20m).
> That's terrible. We're taking about dropping hundreds, maybe thousands of tons down a mine shaft
A mine shaft can be expected to be significantly deeper than a 4-storey tower is tall.
So it seems you've invalidated the assumption upon which your argument is based in the paragraph immediately following it?
> the same amount of power as $700 of lithium batteries you could carry in a backpack
From TFA itself, they estimate they can offer a price of $171/MWh, while Lithium-ion batteries cost $367/MWh.