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That's the way to go. Home battery storage is incredibly wasteful. Battery storage is precisely what utilities should be doing, and if they don't want to do it, then crowdfunding it is a great alternative.
Is it wasteful or just cost-inefficient? The only "waste" you have is many small inverters vs a few big inverters (in terms of raw materials the big inverters will have much much more copper, glass, gold, etc... But much fewer of them).
Cables still have to be run, inter-battery connections have to be made, the batteries have similar capacity per area, etc...
I think they might have meant like the cost inefficient. For example if one house has its own battery but doesn't utilize it very much, maybe that hardware could do a little more by supporting multiple homes