This is a tiny rocket going up 300ms and coming back down. Happy for them but they're a long way from any utility ( and a decade+ behind other companies )
I think the DC-X program did this first in the 90s. It ran into funding issues and it turns out there isn't a ton of value in reusable rockets that only go a few hundred feet (although more advanced applications are potentially worthwhile)
It's not a difficult problem. It's just Newtonian mechanics plus control theory. You only need a lot of funding and then just do it (of course build a simulator first).