Ive used bamboo in this manner specifically guadua “macana” and “balsa” to control river bank erosion and capture any organic debree and soil carried by water on heavy rains and its been a great success. This is located in the lower outlet of the property which is more leveled and used to be grass land for cattle. Here they have more access to water year round and better fertility allowing a quick and easy establishment compared to higher slopes where runoff and infiltration are faster. In between the rows of guadua I’ve included patches of food forests (initially support species and
canopy fruit trees). When the poles are ready to harvest we leave some as retaining walls by simply dropping them to the ground following the countour marked by the rows. The soil builds up and levels as more poles are added in.
We’ve also terraced in steep slopes using harvested bamboo like in the image attached. The issue I see with establishing hill sides is constant water access for the plants which depends on your climate. Tho there might be some hardier species and maybe even some running bamboo that can adapt to this conditions and create a better retaining barrier.
I’ve also seen a mixture of clumping and running species used in swales and earth dam walls and they retain soil pretty well but require heavy maintenance specially in the latter.