I don't think "remixing source images" is a fair characterization of this research. Finding pixel-accurate synthetic images is actually super hard.
That said, yes, it's odd they're posing this as a way to extend game engines, when this entire line of research is interesting (to me) for its potential to be a generalized holographic codec. I'm not qualified to evaluate if this is generalizable, but I would hope these results also indicate a possible way forward for camera-derived footage, where there are not acceptable approaches. But to your point:
>As for the scenes in this demo, I'm pretty sure that structure from motion + mesh reduction + normal mapping can reconstruct the original images almost pixel-perfect, and at 200+ fps on modern GPUs.
I don't agree, we've seen attempts to do generalized photogrammetry as a holographic codec, and the results are poor. Microsoft's HoloCapture is probably the best commercial example, and, well... it ain't pretty. (https://holocap.com/) I think the target should be visual fidelity at parity with good 2D codecs. So there's a long ways to go.
The paucity of data sets may be underselling how hard this is and how advanced NeRF (and other approaches like MPI) are relative to advanced photogrammetry. In particular, approaches that extend to video and work well with the human face are very desirable, but there aren't a lot of datasets to test against. And yet these approaches _are_ significant improvements over photogrammetry; I'm not at liberty to share, but I've seen a demo comparing pure photogrammetry to a neural renderer, and the difference is night and day.
But let me agree with you: yes, we should throw these new representations at difficult subject matter, including reflections, translucency, refraction, subsurface scattering, etc, and see how they do. The original NeRF paper had some wild results for refraction, for example, which hadn't been demonstrated before. And when possible, I'd love to see them with video images of people.
I think we're only a few years away from a functional holographic codec, which is pretty exciting.