I'm surprised as it looks more than close to the M3D printer in terms of design and capabilities in my opinion.
As pointed out in this forum a few days ago on the thread for costs and production volumes, to be viable they'll need to aim big and I'm not sure there will be enough people interested. I was stunned by the interest for the M3D and I'm convinced that was a one-shot that should tie that part of the market for a time - there aren't millions of people shopping for 3D printers just now. And, for such a resembling product, I wouldn't be surprised if they can't raise enough. Also the M3D catered to people wanting a very cheap solution and this is more than 200% over it.