Neuralink is doing interesting BCI research, with decent hardware, but it's not really a step-change above and beyond the rest of the field.
There's definitely a lot of promise in using BCIs for rehabilitation of patients with brain injuries but their input-output capabilities are still incredibly crude: for example, we can't reliably "write" to the brain to make people perceive things beyond very simple stimuli (e.g. a phantom touch sensation, or a visual phosphene).
This is understandable: the brain has a bajillion neurons and we only have ~1,000 electrodes that aren't particularly precise in how/where they zap the brain---and even if they were, we don't really know well enough how the brain works to "control" perception finely.
Other problems for BCIs include (i) "representational drift", where the brain's code changes over time, so you need to keep fine-tuning your interface in some sort of closed loop fashion and (ii) damage/scarring to neural tissue.
> Is there enough signal for this to really work?
I'm not quite sure what Neuralink's marketing claims are, so I'm not sure what you mean by "this" here. But intracranial electrodes do have a surprising amount of signal, especially relative to non-invasive methods (I'm currently collecting some iEEG data myself!)
I really want the sci-fi future where we have brain-computer interfaces that augment our cognition and perception, but we're nowhere close---though we're getting better.