Very cool if they can pull it off (and I wouldn't bet against them)
That would be a huge improvement over past space suits if they can make it work. The weigh reduction alone is substancial (400 KG for a 4 man crew). The long duration life support system is another bonus, greatly increasing the possibility for EVAs.
During the Apollo missions, they were literally counting the ounces of everything that went to the lunar surface. At one point, NASA reportedly offered a bonus of a million dollars a pound for weight reduction before the Apollo 11 mission. Pete Conrad, being the joker that he was, suggested they could save $20 million by sending him instead of Neal Armstrong. Pete was the smallest of the Apollo mission commanders and weighed 20 pounds less than Neal.