When you think of it, It's funny how inherently skeptical the programming community can be. Don't get me wrong, I'm having a hard time jumping on the bandwagon for this also. But....
It wasn't that long ago that idea of real time perspective correct texture mapping was all but fantasy in games. It's taken the better part of two decades to get a point where we start really generating real time imagery that are convincing.
Forgetting 'Unlimited Detail' for the moment.
If we cast our minds forward, then as the worlds we try simulate get infinitely larger, we're going to have to start letting go of this idea everything exists in memory in a finite state. This one to one relationship we have data, has no future.
So sooner or later we'll have to start thinking more procedurally about generating content. Games like ELITE were pioneering these type of techniques back when the 8bit world was in it's infancy. But anyway..
This may well turn out be a hoax, I dunno. Then again, maybe it's just some guy chasing a set of ideas down the rabbit hole to see how far it goes. If they can get it to work, then great.