Those ideas have indeed been around for a long time; the paper nicely cites all of the related research work. (Including among many others, a SIGGRAPH paper I wrote on the topic 18 years ago.)
I think the paper is excellent. First, there's a big gap between academic papers on a topic and the experience of actually building a real system that works for real movies. It's unusual for people in industry to take the time to write up their experiences building these systems, so I salute their making this contribution to general knowledge about rendering systems.
It's easy to carp about "all could have been done before"; that seems like an argument that could be applied to try to dismiss just about anything.