Oh, I did understand the idea behind it. But you do realize that you could build a huge buttload of rockets for just a fraction of the cost of this thing? Also, it will require lots of maintenance which is bound to be very expensive and hard as hell. You'd need what, a century for it to pay off? Thus I see no economical or otherwise advantages, unless the thing magically builds and maintains itself. And also, how do you haul up materials for building it in the first place?
The bolded portion made me think of the UAE for some reason.