If this works as well as the hype, it'll still be highly directional, right? So it'll be great for things like backhaul networks, satellite linkups etc, but it won't solve the problem of mobile wireless access (WiFi/LTE/etc). Or am I missing something?
No, you're right. From everything I've read on this, it is essentially limited to line of sight as you need the "middle" reference for the other "orbits", or whatever the heck they're called. (Assuming this is the same technique as the experiment the Italians displayed in Venice a few months ago.)