I agree that "This removes the whole problem of wavefunction collapse", but only in the minds of philosophers of physics and some misguided philosophically inclined physicists. This paper adds nothing to physics.

Giving an alternative formalism that "clears up the mysteries" and suggests an approach for new problems is a huge advance, IMO.

Jaynes did this before for statistical mechanics. Now they've applied the same principles to Quantum Mechanics. Maybe they could apply the gauge extensions of maximum entropy to this new derivation as well.