I am quite surprised by the amount of negative comments here. My immediate reaction after watching the video is that this is pretty cool and I want to try it, even though I expect issues given that it is the first service of this kind in London.

Personally I wonder why didn't they put several Pater Noster parking machines instead.

Systems with eight slots have decent throughout, the same density as cars parked side-by-side and bumper-to-bumper - even including the space needed to roll out - and are mechanically simple compared to just about anything else in this space.