I think it's a great little device. It needs external antennas. And I don't know if it will support point to point or if it is a closed system. If it can be locked to 5.8GHz, it could be a realistic HD downlink (OSD would still be an issue). Regardless, it fills a gap for Internet broadcasting as most of the wireless HD solutions out there so far are either pathetic or ridiculously expensive (some people have resorted to using Lightbridge without a drone).
Full disclosure: Livestream CEO is a former colleague.