While I'm really enjoying this paper, I think you are way overstating the significance here. This is mathematically interesting, and conceptually elegant, but there is nothing in this paper that suggests a competitive regression or optimisation approach.

I might have misunderstood, but from the two "Why do X when you can do just Y with EML" sentences, I think you are describing symbolic regression, which has been around for quite some time and is a serious grown-up technique these days. But even the best symbolic regression tools do not typically "replace" other regression approaches.