The current sense of a plastic waste crisis is that a certain fraction of plastic gets chucked outside and will find its way to the ocean where it will be mechanically broken down in harmful ‘microplastic’ and ‘nanoplastic’ particles. No form of recycling will work if people don’t use the bin.
If, in the other hand, people throw the plastic in the trash bin it will be buried and spend a long time (100-10,000 years?) underground and will at least somewhat decompose. Any environmental threat is kicked far into the future.
The trouble with chemical recycling is that it produces the kind of chemicals that come out of an oil refinery/petrochemical complex (which are used to make plastics) and those are all worth about 50 cents a pound.