This reminds me of that time over a decade ago, when I went to some PC LAN gaming place and got to play Quake with a Forte VFX-1 headset. It was pretty cool at the time, but looking up the tech specs today reveals one incredibly dated piece of hardware, with resolution below 320x240 per eye.
It's about time someone set out to build an affordable HMD with 6DoF head-tracking, ever since the eMagin Z800 underwent some stupid high price spike years ago. 1280x800 effective resolution is also very nice in a market dominated by 800x600 or 1024x768 effective resolution at even higher price points.
Also very nice is that they didn't bother to include some sort of cheap sound system, so we can all use our favorite headphones. It doesn't look like the headband will really interfere with a headphone's fit, either.
The only question that remains is how comfortable it is to wear for long periods of time. It's obviously not very useful as an immersion tool if you can't stand to wear it after a while.