It's like a "Book Library", (eg centralised local place for storage and co-ordination) but for tools. There's one here in Melbourne (Australia) with about 400 members, and over 1000 tools:
* https://www.brunswicktoollibrary.org
* https://brunswicktoollibrary.myturn.com/library/inventory/br...
They have power tools (~200), hand tools (~600), garden tools (~200), automotive stuff, electrical/soldering gear, etc.
And they have occasional um... workshops (or something similar) teaching people how to repair things. eg:
* Bike repair (Sep 2020) - https://www.facebook.com/events/728114278044351/
* General repair (Feb 2020) https://www.facebook.com/events/613979845834779/
Seems to work really well, at least in this case. :)
The lack of environmental problems and abundance of clean energy also sounds good, though it just appears magically in the essay, so we can't say much about it.
Lack of privacy is terrible, and we can make it much better. Flying cars are terrible. Not owning everything is terrible. I'm the complete opposite of a materialist person, but I can understand how it's very useful to own some things. I mean, besides your underwear. Some might have sentimental value, and others are used so much that it's more practical to own them and know they are always available at the place you left them.
Something that rings very true for me: Sharing is amazingly underutilized (unfortunately I feel it's a deeply cultural problem right now, but oh well, over time things change): I have absolutely no inherent need to own a car. I don't need to own a Hammer. I don't need to own a bicycle pump. Actually, it's intensely inefficient how many things I do have to own and store right now, to be able to only use 5 Minutes every other week or maybe even only half a year.
What I instead need is convenient access to these things. If you can show me a model where I can have that without the burden and cost of solo-owning it – something the author is implying will be a solved problem – I am all for that.