The problem with that line of thought is the size of the existing install base, and of course the reluctance of consumers to change to LEDs, let alone the existing dimming infrastructure.
Nice part, nice design trick, great article. I have a reservation about the whole thing, though, which is nothing to do with this device. It's that we really should try to wean ourselves off the triac-based phase cut dimmer. It's a noisy harmonic-spewing monster that turns a high power-factor load - whether it's a resistive filament or a carefully designed PFC'd LED lamp - into about the worst-PF load you could conceive of. And the utility companies have got to deliver all that harmonic current to you. All this alt.energy stuff like solar is only going to make things worse for the utilities. Inverters are regulated to have a pretty clean sinewave output and don't supply the harmonics. So the current the utility sees is only going to keep getting dirtier, unless we impose tough PF constraints on everything that connects to the grid.
I find this article very interesting as it shows that apparently simple electronic schemes open an enormously area of problems and then of thinking and being creative. I will recommend it to my students as an excellent example of good engineering job.
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