I've seen this mechanism as a CNC router for cutting pieces out of a sheet of plywood. Seems like it would work better for that use since the feed speed of a router needs to be slower than a pen in general.
Wow, this looks so cool. Do you have a BOM or some schematics or even source code lying around? I would be interested to try something like this myself.
This is the first Open Source one I came across with a quick search: https://www.maslowcnc.com/