Check out the video below to see what I mean. Basically it generates smooth faces at render time from point cloud data. This is beneficial because it means complex objects can be far more light weight as they don’t need any geometry other than points.
This company was bought out by sony shortly after this video was made, and I believe it’s the tech behind the ps5’s unlimited detail (streams only the points/triangles necessary for the gpu to generate each frame, like a very lightweight out of core)
also meshing a point cloud is expensive processing if the mesh is very dense and this is just a tech demo we do not know what or how much does it really impacts the performance but it does opens new possibilities.
I don’t believe it actually creates a mesh, I think it just creates a pixel which is the average value of the surrounding points, same for ray tracing. Guessing the points to use per ray are based on proximity and point number (to make sure correct points are averaged if there are many points in close proximity that aren’t close to each other along the virtual surface).