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Given the results mirror other experiments that target successfully recent unhoused people I suspect they aren't targeting "the most vulnerable" and that phrase is the author's choice.
If you work with unhoused people enough you would know "the most vulnerable people" aren't lacking for money as much as they frequently are fighting significant mental illness. One guy that used to sleep in the parking lot if a store I worked at, Eddie, wasn't just homeless and an alcoholic. Eddie was incredibly prone to violent hallucinations and handing guys like him $1k a month isn't changing that.
They are almost certainly targeting the recent homeless who has a job or recently had a job, has a credit history, and the ability to get off the streets and just needs money to do so.
Im not saying we shouldn't look into this as a solution to part of our unhoused problems only that we shouldn't restrict other programs meant to address chronic homelessness in favor of this.
To be considered homeless, you just need to be without a permanent place to live. Some people are living in their car and still employed, some are couch-surfing, some are sleeping on the sidewalk and have severe drug/mental health issues.
Housing first/financial aid is great for the first two people I mentioned, it's not too helpful for the third. People often look at trials like this and think it's an easy solution to homelessness while ignoring the problem just isn't that simple because of that third group.
All that said, if the program does a simple evaluation to determine which group people fall into and gives money/housing to those best suited for it then it's pretty much a no-brainer that it should be widely implemented. It won't solve homelessness, but it'll make a really big dent.
Most are homeless doesn't describe their particular circumstances. There are people living in their cars who have jobs and credit histories who given a few grand can easily not be homeless . That is in contrast with the guy who is incredibly schizophrenic and constantly hallucinating who hasn't held a job in years. That guy isn't getting off the street because you gave him cash because he needs mental health care that he might not recognize.
Just saying they are homeless doesn't describe who they chose and why.