In a stick frame building, everything still gets clad with sheathing (plywood) and subfloor (thicker tongue and groove plywood).
Structural insulated panels (plywood/foam sandwiches) have been around since the 70s. They're a useful building technology.
There's no way they can provide an equivalent amount of product to a SIP cheaper. They're operating at small scale, and CNC machining everything which is expensive. The math ain't mathin'.