Yes, perhaps it's a decent algorithm for finding near-optimal solutions to the traveling salesman problem, but the quantum computing thing seems to be mostly marketing. Emulating quantum computing on non-quantum hardware sounds like... just normal computing.
If anything is dubious here it is D-Wave's claims. I've heard a lot of people claim that their machine isn't a proper quantum computer and cannot perform the same kinds of operations. I also remember prior claims that the, at the time, state of the art D-Wave machine had worse performance than a well coded software implementation. But I don't know how fast their current hardware is versus a software implementation.
The algorithm has already been proven by ServicePower's customers. It was first used back in 2012 for an academic problem:
"Quantum annealing is a combinatorial optimization technique inspired by quantum mechanics. Here we show that a spin model for the k-coloring of large dense random graphs can be field tuned so that its acceptance ratio diverges during Monte Carlo quantum annealing, until a ground state is reached. We also find that simulations exhibiting such a diverging acceptance ratio are generally more effective than those tuned to the more conventional pattern of a declining and/or stagnating acceptance ratio. This observation facilitates the discovery of solutions to several well-known benchmark k-coloring instances, some of which have been open for almost two decades."