The plastic has already been produced, so it's already an environmental problem, this repurposes it, one way or another it's going to break down and end up somewhere.
To me this sounds like people in most of the world are getting needlessly poisoned with microplastics when a technological solution exists. Why do I doubt there is going to be a successful non-profit helping build good landfills?
Rapid urbanisation and comparatively high poverty (lack of access to clean drinking water, so plastic bottles are used) lead to more and more waste without proper waste management catching up.
Almost all plastic in the ocean comes from 10 rivers - 2 in Africa (Nile and Niger) the rest in Asia [0]