I tend to agree that it’s a nifty idea but I think it’s a decade or so too late as the industry settles on ETCS. The legwork to prove ETCS as SIL-rated is done, whereas this has all those uphill battles still to fight and I’m not sure it’ll have the potential advantages to overcome that. You can also approach any of the Siemens/Hitachi/Bombardier/etcs. of the world and have no issue spec’ing for ETCS today.
This does have potential advantages in maybe finding track defects if set up correctly to do so? But that sort of system already exists and is installed on rolling stock, so once again it’s having to overcome the first mover advantage.