This is definitely in its infancy, very far off from commercial production. That's 1 Gb (lower case b, for bit) storage. It would take 128 chips just to make the 16 GB flash in the average mobile device these days. A phone has at least 512 MB RAM too, which is 8 of these chips. Maybe it could be useful as a sort of buffer cache due to its speed, but then may as well just add more RAM to do that.
This is definitely in its infancy, very far off from commercial production.