Would you like a new lamp or guitar?
It wouldn’t really be wood, of course. Structurally, it’d be plastic, with bits of wood embedded in it. And the structural properties of wood really are desirable, for some applications.
Might still look really nice, though.
I can definitely see how some unique items could be made from this “wood”.
But for a guitar, while you could certainly make one that would be difficult (if not impossible) to make with conventional wood, I would like to hear how it sounds first. Plastic with embedded bits of wood isn’t going to resonate the same as real wood.
Take acrylic guitars, for example. They are cool too, but they don’t sound as good as a real wood guitar.