Pretty neat. They take a pint of blood, separate out the stem cells, “guide” aka convert them (not explained, but I think it can be done with gene therapy and complicated physical/chemical treatment) to become red blood cells, and culture those red cells in vats.
The price tag is important. So far, these therapies are expensive. If, in the future, the stem cells can be nudged into their work more cheaply, the effect will be world-changing indeed.
World-changing if it works.