Making a perfect material out of papercrete will cost a lot of time and money and papercrete will lose the biggest advantage, the low cost.
Good idea will be the one which will combine all the materials properties, low price – lightweight – flexibility -surface texture. Papercrete facade panels might be a good idea but further research is needed. Current results might not be great but the material have great potential. Research on structure, thermal properties, connections, remains to have a better overall image of material properties.