Exxon and the plastics industry have only been lying to us about the recycling will save us myth for 60 years. This new chemical recycling plant is a good start in helping manage the end of life of their products that they have ignored since the beginning. they are in for a hard lesson on getting this material back to their plant and the manner that they want it. Municipal recycling streams are a mess and expensive to collect then sort.
But it in no way means the plastics industry are intending to make less plastic, just the opposite. This plant is a Trojan horse to get into the PR Fort and deflect regulations and bans. They need to keep the focus on the usefulness of the product, not the problems caused by it. The plastics industry plans on doubling production of virgin resins. There is no way if recycling was viable that they would be doubling plastic production because we are a wash by plastic waste of which Exxon and others have never been held to account or made to pay for all the decoration that local governments have had to do.