I think they already have the prototype working and they have been testing photo-resist polymers with it, you can read my previous post. Remember that this is an alternative EUV light source, this is not and i repeat a complete EUV tool. The parts of a lithography tool are the optics, the electro-mechanical workbench and the metrology system. This is just the light source.5 years to build a prototype and another 5 years to get it into a viable commercial lithography machine. At best.
I wouldn't be expecting much of SSMB. I think it is fine to fund it for long term but in the short term it won't be useful.
Miniaturization is less important than viability in industrial setting in terms of light quality and ability to distribute the light across factory floor plan as well as light efficiency and cost effectiveness.