It doesn't look like many have read their page, but it is not doing a crop and pan and scan, but is using the method of taking the data and reconstructing the outside edges. It also claims that its gyros are much more sensitive than a smart phone. Like was mentioned, as with any stabilization, high shutter speed is needed or you get motion blur on your subject when it isn't moving in the frame (because of stabilization) which looks weird. I will have to see some more real world examples and user tests to make a final judgement, but it certainly has peaked my interest.
i've already mentally set aside a gopro's worth of cash for this thing, provided that the projected release date isn't a year
like dusty said, as long as you don't assume you can now throw your camera around and this thing will magically fix your terrible camerawork, it'll be just another useful tool.