They call it a "Digital Cam" because when you graph valve lift vs time it literally looks like a square wave. The ramps really are that steep!
This compares to a conventional cam with a sudo-sinusoidal shaped wave lift profile (neglecting the effects of high RPM valve float).
Criticize as much as you want, but a truly functional electronically controlled camless engine would be the holy grail of internal combustion engine design. You can easily pick up 20 horsepower on many engines just by swapping to a performance cam, but you often compromise efficiency. But with a camless engine, in theory, you could have cylinder deactivation, low compression starts, the elimination of throttle plates (lower pumping losses), "full race-cam" profiles for performance, a cam profile for smooth idling, low emissions, etc....
Truly the best of both worlds!! That being said, there are disadvantages....
I read an interesting SAE paper 20+ years ago describing a working prototype camless engine. The performance gains were impressive, but as I recall, there were two main obstacles:
1) Noise, Vibration, and Harshness. (NVH)
2) The valves landed harshly leading to valve seat wear. The SAE paper suggested using a method for softer valve landings.