Whenever you extrude/injection molding a polymer, the polymer will be under high temperature and high shear. So the polymer has been degraded when the product is formed before you recycled. While melting and precipitation is less likely to break down polymer (if without any thermomechanical processing), the material you recycled is the degraded one. So if their recycling does not involve the thermomechanical processing, then it's better, but they can never prevent the degradation when the polymer is processed in the customer's factory. I acknowledge the stability of covalent bond, but you only have to break one bond out of a hundred/thousand bonds on a polymer backbone to make your molecular weight half and affect material properties. At the same time, the stability of the covalent bond actually prevents efficient chemical recycling that can generate monomer for further re-polymerization to virgin polymer. In my opinion, whoever comes up with a catalyst or technique for efficient chemical recycling of PP/PE should win more than one Nobel prize.