I'm pretty sceptical as well. These kinds of things have been tried before, and never really caught on. But that might be because pure touch-based interfaces were never really popular before and with the mouse it's entirely impractical.

I think the idea is very promising, to be able to 'code' with touch gestures instead of a keyboard. This is only the first iteration so I guess things will be improved eventually if this catches on.

At least people are thinking about it :)