Unless I'm missing something (I just admit I read write ups and didn't watch), this seems only diagnostic at this point and not therapeutic.
It works the same way as DBS. He showed a video that showed neurons lighting up, in the pigs, when electricity was sent to one of the 1024 channels in that area of the brain.
He also mentioned specifically hearing loss and blindness as conditions that could be treated with this device. Hearing loss was pretty up there on the list of conditions to be treated and I'm sure this is no coincidence. He is definitely aware of hearing issues and tinnitus considering his girlfriend/wife, Grimes, had/has tinnitus.
Also, it makes sense that they would tackle easier issues to cure first. There's a large leap to be made in restoring function for patients with broken spinal cords, which seems to be Neuralink's end goal. In other words, it's actually really good that hearing issues is one first things Neuralink will likely try to treat.
I also read an article today refering to Neuralink and saying how there is already a treatment for hearing loss which, you guessed it, was referring to cochlear implants.
It is well known that cochlear implants and DBS have shown potential to treat/cure tinnitus, so it seems like Neuralink is right on track as well.
If you guys think that this device is a joke then think again. Brain implants are becoming more and more common with 200'000 people already having them worldwide. There zfd also a lot more of these biotech companies coming out.
Musk is a billionaire and is dedicated to backing his projects using his own money. I'm also not surprised he gained FDA breakthrough device designation. He has borrowed money from the US government before and paid them with interest quickly. Furthermore, they laid out a lot of impressive details in the update. I'm sure the FDA took notice of this.
Even if you guys aren't keen on getting a brain implant, then this is still good news. All of the data that can be collected from this device after it is implanted in a tinnitus patient could lead to other cures for tinnitus.