I did the same math as Notch, independently of him, and came to the same result: This will never run on current consumer hardware because of space and computation constraints. I don't think this is a massive stretch considering the numbers involved.
The math Notch did was to prove that they are using procedural generation of geometry, which makes it feasible. In his mind it also makes it a scam. Beats me why.
Euclideon are not saying they are more awesome than everyone, they are saying they are up against the polygon industry.
The point is that they're the only ones being deliberately misleading in order to attract investment, which is pretty easy to see as unfair. There's no mention that the variety of what you're seeing is severely technically limited by space, despite specific attention being given to the fact that a "real video game would use artists and everything would look a lot better"
