Like with Ovonic (3DXP/Optane) and other phase-change memory, it works. Anyone claiming it to be 'bs' is incompetent at best.
The problem, as always, is making it work in an economically viable manner, which means production at scale. For Optane, the same Micron malfeasance that meant it took two decades for Chalcogenide process memory to go from design to initial production hobbled the expansion needed to drop prices, and this implementation could just as well be hobbled by a similar lack of investment (or continued patent trolling from Micron).
The loss of 3DXP is disappointing, because even today it beats the pants off of NAND-based SSDs when it comes to low-queue-depth mixed read and write workloads, which is the typical client use that direct impacts local machine performance. Lets hope this does not see the same fate as other PCM technologies.