I don't see why it would be cheaper. Especially when specs are a bit closer to something usable.
We already have 3 cent MCUs that are much faster than this.
I also don't buy eco angle. The piece of silicon is just sand in the end, plastic packaging is a bit worse, but if we assume non user friendly package, then we can go with WLCSP and avid the plastic in a traditional process.
It is an interesting proof of concept, for sure, but I would not extrapolate too much.