

Eh, it’s just a start of development. It only goes 300 meters. Blue Origin goes higher, but even they aren’t in orbit.
Japan also has some odd limitations on their rockets as part of their self defense only constitution. They don’t build a rocket that could potentially be used to strike mainland Asia.
The Estes Corporation makes rockets that will do 600 meters.
It’s great that Honda is doing this. We really need other companies in this area, because SpaceX is dominating it. Even if Elon weren’t a walking disaster, we don’t want one company so badly outclassing everyone else.