

It does sound a lot like LORAN-C, which I admit I forgot was a thing that once existed.
I know that in areas it covered, LORAN was supposed to be pretty accurate for positioning. I don’t know exactly how well this would compare to that, things like what frequency they transmit on, how much power, digital vs analog, number of transmitter sites, etc. will all come into play, and I don’t feel like digging into exactly how the two systems would stack up against each other. Could absolutely be the BPS totally blows LORAN out of the water, they might be comparable, it might be markedly worse, we’re well outside of my pay grade now.
I think I already addressed your first paragraph pretty well in my comment.
If you’re touting something as an alternative to the Global Positioning System, I think it’s reasonable to expect that it’s going to cover at least most of the globe.
It also doesn’t really seem like it’s intended to be an alternative, more like an extension or backup to GPS. If I available you should still be using GPS, this is just something you’d fall back on if regular GPS goes offline. Sort of like how you wouldn’t want to run your house off a generator 24/7/365, but if a tree falls on the power lines by your house you at least have the generator to keep your fridge running.
EDIT:
Also, for pretty much the entire history of TV, different parts of the world have operated using different and often incompatible broadcast standards. I don’t really see that changing and the rest of the world adopting ours, especially with the current administration being blatantly hostile to our allies. At best they’ll adopt their own standards that will do something similar to BPS but probably won’t be directly compatible, there may be devices that can make use of both, similar to how a lot of GPS devices can also use Galileo or Glonass.