Diamond lathe tool

A very practical bit holder! The origin of these is to be found in the 6 or 8-spindle automatic lathes that use profiled bits/bars(!) that can be sharpened very easily.
(perhaps outdated by CNC nowadays).
I made me a diamond-oriented toolholder but seeing yours, the 'square'orientation has no disadvantage besides it is easier to mill.
If you make some toolholders for circular bits, you can use up broken drill bits (the last 5mm under the flutes). The radius gives a nice surface.

Diamond lathe tool - video