It seems like it's just a one-location attraction. I don't really see how its a huge waste if it's just one location and they're charging like six bucks to play.
This article doesn't really say if it's Arcade Stage 4 or not, which came out a few months ago. (Oh, er, nevermind, the Japanese article it links to does, I still don't get why it's limited to only three courses though)
I played Arcade Stage 4 a bit, and let me tell you, it's a pretty amazing machine. It runs on pwn hardware and every machine has a widescreen monitor and network connectivity. It's visually one of the best looking games out.