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I don't see it as a replacement for stairs, it's too impractical for general use. The only use case seems to be for what their demo video shows, people with limited mobility.
Space requirements are very different to stairs or other lifts.
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Is that essentially a one way rachet? All you need to climb easily is prevention of regress and maybe some mechanical advantage, right?
It is a bit more complex. Climbing means falling. The 'ratchet' needs to work under shock loads. And wet/ice ropes radically change the friction numbers. There is a reason why climbers, experienced ones, know and use a great many different tricks for accending and decending ropes. A "big wall" climber can make a belay device out of almost anything, or even nothing.
“The leader must not fall.”
This reminds me a lot of a video of a retired man that uses his new free time moving large objects just by leveraging gravity. I can't find it right now but I think that there's a potential there for new ways movement just like the vertiwalk.
Perhaps you are thinking of Wally Wallington? A retired carpenter who produced some videos on moving Stonehenge sized blocks? https://web.archive.org/web/20160302003628/http://www.thefor...