It's not going to be something that most people with an SLR are going to want to buy for printing from for sure. At least for now. But just like Apple with the iPhone and iPod, if this product just does what people want, simply and easily (which it appears to from the videos) then it has potential.
How many people with P&S cameras ever actually want an image for anything other than facebook or a 6x4 print these days? While hairy ass nerds like us can see that the image quality and resolution isn't there yet, average Joe doesn't care. That's why when their mate puts up an out of focus low light picture of his big toe, average Joe says "Wow, thats amazing, please do my wedding" lol. It doesn't need lots of buttons, it has no shutter lag, it apparently shoots well in low light, and it's been designed to look like something out of Cupertino. And that can't hurt.
And they have struck gold with the one thing that average Joe looks at when he buys a camera. The number on the box. 11 Megaray is the term they are using and that sounds massive for the size of the image you get.