Obviously not for 'purists', but considering the preponderance of effects most guitarists end up using it's a much quieter way of getting a waveform off the strings and into the signal path.
Just watch, the first time someone uses one of these on stage with a lot of pyrotechnics the resulting noise extravaganza is gonna make that Merzbow guy sound like Ed Bickert.
I would guess they didn't spend the time and effort to patent a pickup that freaks out under flourescent lights and camera snapshots. I could be wrong though.
Me, I'm waiting for the 42 fret model, and nothing less.
Optical pickups are nothing new, and this "guitar" looks like it was made by special needs kids during a one-day workshop. Hoag, the inventor, invented these back in 1968 and first showed them at NAMM in 1969. As you can see, they're catching on.
Note that the actual bridge is under the pickup cover. That bit of rectangular metal you see below it is a name plate. Palm muting is almost impossible.
Also, external power is required for the light guitar... Less than optimal.
Having tried them, they work well. The tone is a bit sterile but clean.