The idea is that it's a camera you wear on a lanyard around your neck, and it automatically shoots about 2,000 photos a day while you go about your daily activities. According to their website, these will be the best possible images from that day.
This seems neat for a couple of reasons. For one thing, it frees the user up from worrying about capturing a shot of an event. They can simply live the experience and have it recorded for them automatically. Secondly, this camera could potentially capture things that the person may not notice themselves. I've found no mention anywhere on their site or elsewhere about the quietness of the camera. Hopefully it's not making loud clicky noises all day long.
I think that the future is going to be full of methods like this for recording people's entire lives automatically, whether it will truly be useful for us or not. This is just the beginning. It might even sound creepy to an adult today, but the kids growing up with this stuff will more and more often see this as a normal activity.
Today, it's a camera on a lanyard. Tomorrow? Cameras built into eyeglasses or maybe even shirt buttons.