If it's really that good, Apple should buy it up before anyone else can.
No kidding! If Hound is this good, Apple NEEDS this tech! Siri is not nearly fast enough (in my usage on a fast WiFi connection) to use on a transparent basis.
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It's not hard at all to beat something that's a half-measure effort from Apple that works maybe one time out of fifty. For something that's supposed to be a flagship feature of iOS, it's probably the most maddening because it's downright terrible in functionality, and cannot work without a connection.
I think (I hope!) we'll see much better on-device support for Siri in the coming years. With Macs gaining native Siri support in the next OS X release, I expect a lot more deep-device integration. We have the A-chip, we have the M-chip... now for the V-chip, an always-on dedicated voice processor.