Honestly, I kind of see this as just another gadget. For people with too much money and nothing better to spend it on. What is the problem with chipping away at the ice? Sure, I've had holes freeze solid before, but just get a cover if you're fishing that cold, or for that long...
I also wonder if by disturbing the surface of the water, you're sending vibrations or something to the fish in the surrounding area. I like my holes to be disturbed as little as possible. I would think this might scare them away, like slapping the top of the water with an oar or something...