PeterDonis said:
As far as I can tell, it's mathematically equivalent to standard QM. I might describe it as a sort of weird variant of the Bohmian interpretation, where there are unobservable particle positions as underlying hidden variables, but stochastic dynamics for these particles, set up in just the right way to match the predictions of standard QM, takes the place of the initial distribution of particle positions in the Bohmian interpretation, which is likewise set up in just the right way to match the predictions of standard QM.
The comparison with Bohmian interpretation is, in fact, discussed in the first of the papers:
"Because this paper’s approach invokes hidden variables
in the form of underlying physical configurations, this
framework for quantum theory shares some aspects with
the de Broglie-Bohm formulation, or Bohmian mechan-
ics [84–86]. However, in contrast to this paper’s ap-
proach, Bohmian mechanics employs deterministic dy-
namics, and features a fundamental guiding equation
that explicitly breaks Lorentz invariance by singling out
a preferred foliation of spacetime into spacelike hyper-
surfaces. This paper instead takes seriously what exper-
iments strongly suggest—that the dynamics of quantum
theory is indeterministic, and that there is no fundamen-
tally preferred foliation of spacetime. The formulation of
quantum theory in this paper is also more flexible and
model-independent than Bohmian mechanics, and works
for all kinds of quantum systems, from particles to fields
and beyond."
Barandes also claim, in the final paper:
"Remarkably, one therefore arrives at what appears to be a
causally local hidden-variables formulation of quantum
theory, despite many decades of skepticism that such a
theory could exist"
It is here that
@DrChinese comments are most relevant, because only the simplest EPR set up is actually analyzed in any of the papers.