Been around for years. MAJOR bucks- $15,000 for the reader! Last I heard, they were concentrating on the large storage requirements of data facilities. Some of us have had great hopes for this, but by the time the price drops to the Wal-Mart level, something else may be out- or physical media may be passe'. Certainly, by that time, current high def media will have been well established- or failed. And, of course, we must remember FMD. This was going to be the "next big thing."
From Wiki:"The market for this format is not initially the common consumer, but enterprises with very large storage needs."
Personally, I think it's overkill. You just don't need that much storage for movie content. I guess you could offer totally lossless encoding but basically nobody would be able to see the difference. I just don't see how you could market it to anyone as there would be no qualitative difference between it and the Blu Ray disks.
The only thing you could do would be to put several movies on 1 disk, but I just don't see this as being a huge competitive advantage. Sure I could get all 6 Star Wars movies + extra content on a single disk but I just don't think that would be enough motivation for a new format - and it is only motivating for movie series. For the fast majority of individual movies there is no advantage to the format. You would waste 95% of the disk and offer no demonstrative advantage to the end user.