I think multiple people working on the same thing is great.
Everyone comes at it from a different point of view, and some approaches work, some don't. And when people do this themselves they learn. Existing projects have their mistakes worked out already.
Maybe one of these people is going to come up with the thing that nobody else thought of because of their experience working the problem from scratch. You may not get that from someone working from an existing project, because existing projects have their approach "baked in."
What all these projects are showing so far is that it's possible to stream from disk, but that the performance isn't ideal. But I'm sure you could take this approach with smaller models and get better performance.
In addition, it's a given that when you work with large data sets performance means organizing the data to take advantage of caches, both disk and cpu. It's not clear how that would work, exactly, given that each run is a not-quite-random walk through the data. The Big Data way is to prebuild all of that as much as possible, which is probably impossible with a big model. But what about a smaller model?