As usual when you discover something new, the response comes in three waves.
First, this is non-sense.
Second, this is trivial.
Third, this is important, and we
did it before you did.
See also in the issue of Summer-2014 of the same IAS Institute Letter, the
interesting article p.8 by Vladimir Voevodsky entitled:
The Origins and Motivations of Univalent Foundations
with an instructive account about the reliability of our current mathematical production.