Personally, I think this is just another way to push retrogaming. With the IP rights to SMS, Genesis, NES & SNES expiring recently ripoff consoles have been appearing with the ability to use carts for one, sometimes more systems. The main issue is that you do need the carts to use them & from what I've read the video output isn't that great.
At least this one includes games and adopts a wireless handset which is a novel approach given the asking price. There will probably be more than a few Mums out there who will be happy to get something cheap for the kids to play knowing they wont be tripping over cables etc.