Simulating a lump of tissue is definitely useful, it's when they start talking about simulating a complete brain that I get lost.
A brain doesn't happen overnight. It is the result of a long developmental process encompassing embryology, learning and experience acquisition.
How do they plan to wire the whole thing?
Micro- and macroscopic connections are well understood, it is the so-called meso-scale (in between) that is troublesome.
There will never be a non-destructive way to do extract the information of a live brain, and I'm not sure there will ever be a way to extract it at all. The current methods[0] allow to extract either the wiring or the genes expression.