All things considered, you have to admit it does look cool. The fact that it somehow detects the current draw and adjusts the speed of the light "flow" effect, you can see from afar how charged your device is. Obviously we have 2 or 3 intertwined luminescent surfaces that based on the sequence of turning on/off give the marquee effect like charge is flowing.
As far as the price goes, I can see people picking these up at that price. I wouldn't, but then again I'm also not in the same market as people who buy $400 Beats Audio headphones either. But someone who is would buy this in 2 seconds. Better yet, add the same features to headphone cables in sync with music and you have yourself another Kickstarter.