Sounds like a first generation misfire, but - as with so many of these things nowadays - there's a rush to get to market (first, or close to it) and start figuring out what the viable use cases are after it's out in the world. I suppose we will probably continue seeing more of that down the road, somewhat disappointingly.
Appears to have a lot of interesting, if half-baked ideas, as a result. Obviously the projector feature is cool as hell, although (like so much of the rest of what is going on with this thing) it is not yet ready for prime time. As a designer I am very interested in this line of thinking, and it's fascinating to consider the new notions of computer interface/navigation that it can involve. Not ready yet, but interesting to watch and see where this (and devices like this) will go.