Touchscreen scrolling has been in consumer products since at least the early 1980s and inertial scrolling on a touchscreen has been around since at least the early 1990s with Sun's Star7[1].
(And I wouldn't be surprised if there are academic papers that predate the consumer products by a decade or more.)
I love the delightfully 90's/global village icons they used in the UI here. So few pixels but they still incorporated popular aesthetics from the time.
That is a seriously sick demo. I had no idea such capability existed back then. Way ahead of its time.
Practically, though, the UX in that demo was terrible. The frame rate was entirely insufficient. The latency between tapping and action taking place was too long. The idea was absolutely great and way ahead of its time, but it was also way ahead of the hardware's capabilities.
We saw a lot of great ideas in the 90s, but either the hardware performance wasn't ready, or the software effort fell short of the polish needed for mass adoption. We had to wait for the iPhone to be one of those rare products where they used capable hardware AND actually finished the software.