I might be missing something as I don’t yet see how this LED would be revolutionary.
The article initially states an LES of 2.16mm^2, but later reveals the dimensions to be 2.16mmx2.16mm, which is around 4.67mm^2. (The article appears to be written by a marketer, not someone familiar with the technical details of the product.) Thus the 189lm/W at 700mA is basically on par with the SFT40 or new XPL-HI.
The claimed 1400lm at 3.5A is exactly on par with the SFT40 per this test, but in exchange for a smaller footprint the HL4Z achieves comparable flux by using an LES that is 16% larger, which compromises intensity.