This WAS under NDA... Until I Called in a Favor

Linus showed off a really impressive tech demo which accomplishes that: [VIDEO] I would link another source if I can, but there's almost nothing I could find about Thunderbolt Share.

Related, Intel was showing off Thunderbolt Share at CES[1]. Allows Thunderbolt 4/5 device-to-device transfer of files. Theoretical speeds in the 20Gbps and 40Gbps for Thunderbolt four and five respective. One idea for why they were only able to reach 11Gbps is having only one Thunderbolt/USB4 controller[2], meaning the two USB4 ports split the 40Gbps PCIe lane. Throw in a full-duplex connection and you get 10Gbps in one direction. [1] [VIDEO] [2] Just a theory but seems like a sane assumption.

This was actually shown off at CES earlier this year, here's the only video I can find: [VIDEO] In this it's claimed that Intel is doing a direct framebuffer copy. I'd say the "Microsoft’s Remote Desktop without all of the setup." is editorialising. It's not the clearest shot, but the latency shown at 30s in that video looks pretty good to my eyes. On the other hand I've been caught out by tech companies making exaggerated claims about pre-release products before, so who knows, maybe it actually is no better than VNC.