The author noted that this approach might be workable for a "real" game with smaller textures -- the biggest levels of detail for textures in the demo are 1024x1024. (And, I don't think the author mentioned this explicitly, but the demo is running in hires mode which could be dropped for a game)
His approach might be feasible with smaller textures and still represent a visual upgrade over the typical N64 "blurry mess"
The N64's games had tiny textures and a very small draw distance. The Game Cube came too late and the PS and PS2 steamrolled Nintendo except for the handhelds with Pokémon.
Later the Wii turned the tables around, which is basically applying the Game Boy philosophy to consoles by beefing up an off-the-shelf G3 PowerMac architecture and adding revolutionary controllers: (Game Cube -> Wii).
