Transit Elevated Bus

At the 19th annual Beijing International High-Tech Expo, China flexed some of its public transportation prowess by debuting a model of a proposed bus system that would hover over vehicular road traffic, straddling existing highways. Dubbed the "Transit Elevated Bus," the radical idea has been kicked around for several years, but now the WSJ reports that China will be building a trial run of the system in its Hibei province later this year. While here in the U.S., we are still scavenging for mass transit dollars and desperately trying to convince politicians that adding more lanes to highways does not actually relieve congestion, China may literally leap above and beyond U.S transport planning if these "air buses" come to fruition. The engineers claim each bus could hold more than 1,200 commuters at a time and travel up to 40 miles per hour. Additionally, construction would be one-fifth the cost of a subway line and could be completed in a single year.
Should we consider a similar plan for NYC?