When you consider the cost of some other cargo bikes, that's not bad (currently around $1200usd on their Indigogo page), and the collapsing is a nice trick. Useful if you can only have one bike and have need of a cargo bike. Less useful if you have the option of having two bikes. And, really, if space is so tight that you can't squeeze two bikes into it, then you probably also can't fit a full cargo bike's worth of stuff in it, so you still don't need a cargo bike. But it's cool concept. I would like a cargo bike, and one of it's limitations is that it can't fit in a normal rack, so no taking it on the bus, and putting on/in a car could be a trick. But in the end it seems better to me to have one, normal-sized bike to ride when you don't need the extra room, and just assume that when you're using the cargo bike, other transit is off the menu.
Still, I like the design, and I'm curious to see it in action.