All technically true, but how many man-hours would it take to calculate the set of holes necessary to print each layer of a non-trivial object (say, a Benchy) without electronic assistance? I'm sure it could be done, but most people couldn't do it in a practical timeframe. Taking presliced gcode and translating it via an automatic or even a manual system should be doable, but you still need a computer to slice the model into gcode.
Jacquard looms are a whole other crottle of greeps. Each warp position gets either raised or lowered, so it's in essence a binary model rather than full analog—conceptually much simpler than this printer, whose punch language is going to have to include slots for longer motor moves. I'd guess that, in the old days, Jacquard patterns were set up for manual punching by drawing up a diagram (which would look like a piece of black-and-white pixel art) and transferring the information one row at a time to the punch. That doesn't seem like it would work for this printer.
Because modest returns don't attract investment, so whoever set it up would have to fund the startup out of pocket and never go public or sell the company off. Not quite impossible, but very unlikely (unless the world changes and investors start getting more sensible about profits).