I think it's pretty neat. I'm mostly skeptical because commodity compute has led HPC for so long. Novel architectures are often quite interesting, but feel like they only have a performance advantage for short periods of time.
It looks like a neat system though, and I'm sure many of the ideas will trickle down into commodity hardware eventually. It's great that HP are still doing this kind of stuff.
Far more than a single thesis. That is a grand challenge problem.