This idea has been around a long time. Camless engines have been "just around the corner" for over a decade. Google it - there are breathless articles dating back to 2000 and earlier.
I hope Koenigsegg are more successful than everyone else. This might work in a toy for the rich/supercar (I liked the bragging about 60,000 kilometers of use without breaking. Quadruple that and get back to us). It probably won't be in anything mere mortals can buy anytime soon.