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A couple things,
1) the controllers they show with it are just these, painted: http://a.tgcdn.net/images/products/zoom/f3a7_pro_controller_u_for_wii_and_wii_u.jpg
2: the extent of thier technical description is simply to say fpga with hdl descriptors, this is nonsensical in contect to specification, its like saying "the ps2 has a pcb (printed curcuit board) with bios support!"
3) the owners are actively avoiding answering technical questions on thier fb page.
4) nobody is going to make a new game for an old cartridge based system all updated to run on this when they could simply do the same for actual, popular consoles that stand a chance of selling well, digitally, where shipping issues and logistics are nonexistant.

What they show as proof of this thing is hollow statements, existing controllers from other consoles, unmodified painted shells from unmodified molds (isnt even a cart hole) and already theyre taking orders?

Its a cash grab, either it will never release and they disappear with the cash, or they release and its an atrocious system undershooting the lowest of expectations and never delivering on its promises.