It uses acoustic cavitation to extract flavor and caffeine from coffee without any heating in about one minute.
I use it every day and I like it. I love the strong flavor of cold brew, and my stomach appreciates the lack of acidity. There is a learning curve but if you're a HN reader, chances are the amount of experimentation required to dial in your version of perfection is an upside, not a downside.
I paid less at the time, but today the kit is selling for US$695. Note that as with all things coffee, it's only as good as your grinder. I ended up pairing my Osma with a Sette 270: https://baratza.com/grinder/sette-270wi/