So the product is only for businesses who meet all three of the following criteria:

1) small enough to not need over $21K per month of credit card charges

2) low enough chargeback risk that Square accepts/keeps them as a client

3) are currently paying more than $275 in fees per month with their current provider.

So bottom line this is a great marketing pitch but not really useful to the vast majority of companies in the real world. The odds of #2 and #3 both being true are basically nil for businesses small enough to meet #1.