It looks like an extremely large ducted fan R/C plane with VTOL. Calling it a "jet" in the parlance of today seems like a stretch. Are ducted fans "jets"? I guess the argument could be made. I would think the people buying these would very well think of a jet as propulsion from combustion. Also, the FAA and turbine (jet) rating... I could go on...
The VTOL is awesome, and something I think we'll see more of as quadcopter technology scales to more robust .gov missions. The applications for this tech are limitless...