It's one of the worst pieces of vaporware I've seen in a while.
First, it can be made with existing parts—the same ones already in their other shipping products.
Second, vaporware is usually aspirational. This was Apple saying, "We can do the exact same thing as Amazon and Google, but it's going to have really good speakers." Well, there already are Echos and really good speakers out there.
Third, it's a product that doesn't play to their strengths. The heart of one of these "AI" speakers is the assistant, and Siri hasn't had a meaningful upgrade in utility and voice recognition quality in a long time.
Fourth, it (through its firmware) divulged all the secrets that were to unveiled at Apple's last iPhone event, and keeping those secrets are one of Apple's best assets (hence the title of this web-site). Not only is this at this point crappy vaporware, it has so far been a train wreck in terms of impacting how they wanted to launch their other products.