This is certainly beyond my field of expertise, but I don't see how the inability of this new lens to focus in the range of visible light detracts from the main point of it being a distortion-free lens whose "focusing power approaches the ultimate physical limit set by the laws of diffraction."
Although I agree that the press release makes it appear as if this will have direct implications on imaging in the lay sense (this isn't going to make a future iPhone the perfect camera), there are certainly applications of such technology that aren't consumer-focused and don't require visible light that stand to benefit from this research.
As blacksmythe notes, the lens created is not your stereotypical refractive lens, but is more along the lines of a Fresnel lens or zone plate. I'd be interested in hearing more about the differences between the two, especially with regard to the limitations of each. Would anyone who read the write up in Nano Letters or has a better understanding care to comment more on the implications?
I agree the press release is a tad sensationalistic and possibly (intentionally) misleading — but what do you expect from a press release? Although the findings presented may not be as earth-shattering as a mass-produceable visible-light metamaterial, I still think it's a noteworthy development that shouldn't be dismissed so easily.