Looking at the video it does some nice stuff that could be further added too with other effects and the like. It all sounds clean and crisp in the video, but I bet you could get some amazing sounds out of it with a bit of tinkering. It'd be a great guitar for droning space rock, that sustain feature is a real innovation. If memory serves me, I think The Edge of U2 had some sort of infinite sustain effect he use to get that eerie guitar sound on 'With or Without You' but it wasn't built into the guitar, it was post processed. According to all the blurb, this is cleverly built into the guitar's circuitry. It looks impressive and at $6500, not likely to land in my hands any time soon.
Don't worry, I'm not planning on turning the old web fun into muso central, normally musical hardware doesn't interest me much, but the Moog Guitar just caught my imagination. As Lou Reed points mentions in the video, 'I've been trying to get a guitar to do this and none of them do that' - so let's see what people do with it when it hits the shelf in September.