I've seen at least a couple of papers before with similar claims, and still nothing I can run on my phone, so I'm not holding my breath yet.
It seems a bit disingenuous to compare with Stable Diffusion taking 50 steps, though; with the newer schedulers you can consistently get great images in 12 steps of diffusion, probably less if you're a bit careful with exact parameters/model fine tuning choice.
The first graph on the page compares the quality of it, showing that it has higher quality results despite taking only 2 seconds vs results from Stable Diffusion that take 1.4 minutes.
It seems a bit disingenuous to compare with Stable Diffusion taking 50 steps, though; with the newer schedulers you can consistently get great images in 12 steps of diffusion, probably less if you're a bit careful with exact parameters/model fine tuning choice.