The technology being discussed hasn't actually drilled much of anything yet. Their latest press release with actual numbers[0] gives depths drilled in inches. Nice progress, yeah, but they're not anywhere near competitive with even water wells, much less the current generation of conventional oilfield drilling technology.

Geothermal power is indeed cool, but to get it usable anywhere on Earth instead of a few places where magma currents happen to be near the surface, we'll probably need several orders of magnitude deeper and wider holes than we're currently capable of drilling just for starters. Can these guys do the job? Maybe, but let's just say I'm not planning to invest in them.

[0] https://www.quaise.energy/news/from-lab-to-field-testing