Hoax, definitely not - I've seen it in action.
I don't think it's a scam either, though I am not convinced it's economically viable enough to make it worth using. I see it as having very real potential utility as a last ditch point defence weapon against anti-ship missiles on capital ships where cost isn't really a factor (you can justify a lot of money to save a warship) and I have heard of some other utilities, but at the moment, it's nowhere near a proven concept.
Israel should buy a couple of dozen and put them on the border. Maybe take one or two into Gaza.