This seems like a good proposition for small businesses where occasional access to equipment not otherwise affordable or accessible is required. Even hobbyists, DIY, property renovation etc may have a use - eg: large table saw, spindle moulder, panel saw, drum sanders, welding kit etc etc.
These are all things which may not otherwise be affordable, take up too much space, and may only be needed intermittently. I assume there is also the possibility for informal business networking, exchange of skills etc with other users.
There are some issues which I am unclear about - insurance, health and safety, training - I hope it succeeds.