Cool. but hopefully it would be better than the average backpack, with shoulder straps that tear off after about 6-12 months. If that happened, you'd be stuffed.
I don't like the look, though. Not terribly technical, either. I'd think that a company focused on "extreme" sports would produce something with a little more color and some more features (such as the aforementioned cross strap) geared at those with a more active lifestyle. Still, an incredibly cool product.