I have looked at ways this could be replicated for general use, very cheaply, and to work on smaller machines than mine.
The problem is getting it to cut to depth, it requires diamond to be on the edge as well, not just the face.
I have a project soon that I am about to use a diamond lapping plate on, and there will be a diamond cup wheel left over, as I have changed my mind on how it is going to work. I think I will experiment with that and see if it is robust enough to do the same as this monster does.
If it does work, then you could have a means of getting super fine finishes, rather than the dreaded machining marks. But some sort of coolant flow would be required.
John