Doesn't matter if something is a good concept. Many good concepts disappear because the market just doesn't embrace them. Having people ditch tried and true gaming means to saddle up with something that has no sense of brand relevancy is a mostly impossible task.
Even when something is an exact iteration, such as the Sega Dreamcast, it still fails. Even when something is superior hardware, such as Jaguar, it still fails. The long standing relationship with developers, as well as name recognition and sense of relevancy in ownership, are the most important factors.
Microsoft managed to insert itself in the market by going toe to toe on hardware, offering its own exclusives, all while still having developers cross platform. Oh, yeah, and a little thing called a lot of money.
With all the other available options out there, I don't see this item taking enough market share to establish itself.