While it’s certainly entertaining, that wasn’t the entire reason to design the thing. The group of 10 students brought together mechanical engineering, electrical engineering and industrial design. They wanted to find a way to build a better wall-climbing robot.
Most robots do it with magnets or suction cups. Some try to grip. All three methods are limited. The first can only stick to metal surfaces. The second needs to create a good seal, and that isn’t easy on a rough surface. Grips are better for cliff sides but less useful for something like a building, which has fewer handholds.