Hell, why build with wood at all when other materials like bamboo are around? Because nobody is trying to sell you bamboo. Our use of wood has everything to do with market effects run amok.
Because bamboo is really bad at many things we do with wood.
Wood is different. Each type of wood has its advantage and disadvantage. A pine tree is more different to a Maple tree than you are to a great white shark in the evolution chart.
If bamboo could be easily used to make SPF studs we'd be all over it - it's a $100B industry and bamboo grows extremely easily.
Up to 1/2 inch thickness... Great. Just need to 4x that to replace 2x4s, the construction material that the entire US home building process is built around.
But looks like it's ready to go for some applications (plywood). Hopefully they can get it thicker and replace more dimensional lumber. Or maybe I'm reading their site wrong?