To a point; I'd think the first thing I'd change is where they are displaying it. The inside of the arm is generally smother, paler and an overall better surface to display on. Since the concept is evolving, it appears to be a lower resolution projection of your cell phone's screen - that cuts down on a lot of devices they have to squeeze in (and makes more sense.)
I think it could work with the right team and a mega budget, and likely be the ‘killer’ device that wearable devices have been begging for. Doubt any place that is begging for paypal donations is going to be the right team.