From -269ºC to -196ºC is actually a huge improvement. Its the difference between liquid helium (expensive) to liquid nitrogen (cheap). Getting something that cold is hard, but keeping it there is just a matter of insulation. There seems to be a different kind of physics when you get that cold. Stable single atom structures, superconducting magnets, etc. It's all based around the idea that nanometer structures are now…
The problem I see is what happens if the temperature doesn't stay in the required range for whatever reason like power failures, earthquakes, sloppy maintenance - you lose the data. Having such an enormous storage that is so fragile seems to have limited usefulness. If they ever get it to room temperature and have it be stabile then it might be more interesting.
Redundancy, Redundancy, Redundancy.