It's energy inefficient, but you're thinking in terms of energy scarcity we have today. What if we had 10x more electric energy capacity (most likely due to nuclear resurgence)?
Energy scarcity is a fundamental property of technology and economics. Aside from a few countries like France, nuclear power serves a fraction of our electricity needs, and electricity is a fraction of our total energy needs. Where are all these nuclear power plants going to come from? The technology described in the article is a way to transform energy. Not to produce it.