This may be an area where very small pixel sensors could be useful in the future (especially since the principle of the images combination/practical downsampling itself leads to noise reduction). And of course, it will depend a lot on the micro-lens array characteristics. If the idea catches, we'll probably see a lot of progress in terms of suitable micro lens array manufacturing.
AFAIC
Coolest practical thing in the paper: the camera could have a dual personality. Forget flexible focus and get full resolution, or close. Sacrifice resolution and get flexible focus and even a certain amount of 3D imaging.
Most amusing idea: working with current sensors, a camera with a square aperture should be better at the task.
Quite fun to imagine, a few years from now, a camera that would automatically operate optimally from a DR point of view (forget ISO), would seamleslly switch from max res to max focus depending on the subject and that would have a... square aperture.