Just what we need. Computer peripherals slaved to some external cloud server. You have a computer right there, able to store stuff. Run programs, even. You don't want to be tied to some here-today, gone-tomorrow service. Also, how do you know it isn't sending your keystrokes somewhere?
An API would make more sense. Programs which change the meaning of keys as you change mode should be able to change the keyboard. Think Blender, with 10 pages of keyboard cheat sheet.
Also, it says "Pre-order. Available Q4 2016." Well, it's Q4 2016. Is it shipping?
How do they send power over "braided fiber"? Whatever that is.
As a hardware device, it may be perfectly reasonable. Ship the product, get some popular programs with too many function keys to talk to it, get the price below $100, lose the ego trip over how cool you are, and dump the "cloud" thing.