The current coincidence is used to select a specific bit / core. Except it selects the same bit in every bank.

Bytes or larger words are made by stacking multiple banks together (18 in the articles case) All 18 bits would be driven in parallel by the driver over the X/Y wires to produce a coherent 18 bit value at the same moment.

The inhibit bit was so you could select which of those 18 bits (in separate banks) would be switched back to a 1, not selecting which bit across the entire bank.