It requires a tank full of water with phosphorescent particles suspended in it. The laser spot size determines how many facets a 3D surface can have. The drawback is the size and weight of the tank of water. A relatively small tank can weigh alot. One cubic meter of water weighs one-metric tonne, and that would only provide at most a 39-inch-wide viewable size. The other drawback is that the whole 3D surface would not be visible at all times. Ordinary tvs are intended to show only a projection to the viewer, one viewing angle, and content is created like that.

Now, if you want to create 3D content on an ordinary 2D screen, I'm all for that. They could record programs with a stereoscopic camera, and people could buy 3D glasses. But that's been done too, and I don't think it ever made it into mainstream production.