Bluetooth is somewhat laggy. Ever try to connect to bluetooth speakers while watching video? It will never sync.
You'll probably have the same issue when trying to do something in real-time with that device.
Plus, I always hesitate with tools that *require* an app to use. The shelf life tends to be limited, usually due to the eventual cease of development, followed by an incompatibility with an update, new operating system version, or new device.
Also keep in mind that a very small percentage of kickstarter projects ever actually become available.
Otherwise, on the surface, it seems like an interesting concept.