The Neuralink YouTube channel (which is apparently a thing that exists) released a demo of their technology using Pager, a nine year old Macaque monkey.

Video Overview
In the video, Pager plays two games using a joystick. For the first, he moves a cursor to an orange square in a grey grid, then moves it to the next square to pop up. For the second, he plays his favorite game, Pong.
While he plays, the Neuralink team have been analyzing the neural activity in his brain using a Neuralink implanted in his brain. They are able to receive data in realtime, and figure out which patterns of activity correspond to each hand movement.
The voiceover states that "After only a few minutes of calibration, we can use the output from the decoder to move the cursor instead of the joystick". The team then unplugs the joystick and has Pager play. Pager is then able to just think about moving his arm, and is able to play Pong using his mind.

Implications
First of all, Neuralink was launched 1 year ago, and we already have monkeys playing games with their mind. I predict with 70% confidence that, within a year, Neuralink will be placed in a human and will have basic functionality. If I'm wrong, I think it'll mainly be because of Neuralink not being legally allowed to conduct a human trial, or due to long term safety concerns as opposed to short term ones.
The hardware should be best-in-class due to the massive amount of channels (over 1,000), and the fact that each channel is surgically implanted into the head. For comparison, 16 channels is on the high end for consumer-grade BCI kits, and each channel is a sensor that rests on top of the skin.
As far as why they aren't making use of its capabilities to do something more impressive, I don't know.
For what I would consider a more technically impressive presentation, see this video of a man controlling two prosthetics in 3d space to slice bread.