Hell, why build with wood at all when other materials like bamboo are around? Because nobody is trying to sell you bamboo. Our use of wood has everything to do with market effects run amok.
Wood is different. Each type of wood has its advantage and disadvantage. A pine tree is more different to a Maple tree than you are to a great white shark in the evolution chart.
If bamboo could be easily used to make SPF studs we'd be all over it - it's a $100B industry and bamboo grows extremely easily.
This is simply not true for use as a material for buildings, which is why it's used as a replacement for wood all across east asia.
But looks like it's ready to go for some applications (plywood). Hopefully they can get it thicker and replace more dimensional lumber. Or maybe I'm reading their site wrong?