Our walking comes pretty close. We don't have wheels because true rotating joints are hard to seal in anything larger than a bacterium, so most of nature goes for reciprocating actions. But if we could have wheels, it would still be wasteful because most of the wheel is not doing anything. What we want is the tiny bit of the wheel - say two spokes' worth, so we can be rolling on one, while we whip the bit that we are not rolling on from the back to the front, so we can make like we have a whole wheel instead of two tiny bits. That's sort-of how walking works, but we can move our feet to drive ourselves forwards, and our feet are offset so we can balance laterally.
This thing is coming at the problem from the other end: rotating shafts are easy when engineering, while reciprocating actions can jam, so they have their little bits of a wheel at the end of the shaft. It takes a step on its little segment of a wheel then whips the segment around - the other way from us but the principle is similar. It can walk like a cautious insect, stable on a tripod of three legs while moving the other three, but, like our walking, there are all sorts of other dynamic tricks you can pull.
I can see where you are coming from, though. Why haven't we seen this before? Why didn't I think of this? Nice.