The keyboard itself was not good for a bunch of reasons, but the idea was gold. Individual, mechanical keys which could change their legends to suit the current context. You wouldn't have to memorize every possible layout before using it, and you could change the layout to suit whatever you're currently doing.
The closest equivalent I've seen would be the pre-mouse-era keyboards which could accept laminated paper legends for specific applications. The next closest, tho in the opposite direction, would be modern configurable keyboards with support for multiple layers layers.