This is wood soaked in epoxy. The epoxy should provide plenty of protection (note that lots of houses are made of regular wood, so I don't think this is much of a problem anyway).
> note that lots of houses are made of regular wood
Yes, but that's why in certain areas you need to do termite inspections because the treated wood doesn't provide 100% protection. Also the wooden parts are normally protected by other materials to not be exposed to rain and rot - in this one the epoxy layer would likely do that, but still, it depends on good coverage/protection.
