I very much doubt that the projector is of high quality or that the projected images would look very good. But if you're an Instagram user you're probably not extraordinarily picky when it comes to viewing high quality, high resolution images anyway. :)

You can kind of see in the third video here:

http://projecteo.tumblr.com/post/49179591369/projecteo-instr...

i picked one of these up as a kickstarter backer and i was also 100% skeptical of the quality, but it's actually quite good and, more than anything, endearing.

the caveat of course is that the size and scale of the projector means you're not going to project from yards away, my best results were about a foot and a half away in a dark room, but at that scale, i was impressed at how well the photos resolved.