Plastic based fuels sounds like petro fuel with extra steps! As for the plastic waste, instead of dumping it into the ocean, we blow it into the atmosphere.
Well, as long as we're blowing fuel combustion byproducts into the atmosphere anyways, the fuel might as well be recycled from garbage. If it was really possible to convert plastic waste into a fuel that's no worse than normal fuel, it would've been a good thing (at least if it didn't require additional energy to produce compared to normal fuel), even though the overall goal is to cut down or eliminate the need for fuel over time.