We already use lights and Hi-vis clothing to increase driver awareness. This beacon thing is just part of the evolution. Unlike lighting, which can blend amongst the many, many lights that a motorist encounters, the beacon will specifically identify you as a cyclist. As long as the algorithms used by the other cars can process this correctly, it's a good thing, right?
I do agree that they should not be necessary, and they would not in a world with perfect road users. That's a dream world that will never exist.