The problem that comes into my mind is that dispensers are tech, while bins are literally a bunch of plastic/cardboard/metal. But on the pros, your system is a FIFO queue, while the system in the video is LIFO, the latter is not good for goods with an expiry date.

I am currently working in a warehouse with 80k unique items, i am planning to automate the system (because currently it's using little to none automation, mainly because there is a conflict of interest) and a system of bins with the pickers/refilles zooming on the top is the best solution I've found so far.

I think that i will make the project open hardware/software.