I wish them the best of luck but it seems to me like they're really overselling themselves.
They should work on a better testimonial video.
Of course, this testimonial pales in comparison to, say, the Oculus Rift kickstarter video. But that product was further along at that point, and solving an easier problem.
Edit: Actually, I take that back. I didn't realize this was featured on their home page, which definitely should have a better testimonial. At least it reflects the reality of the tech at this point, setting the right expectations hopefully (in contrast to their main video).
This video is brogrammer culture at its worst.
"AIREAL pumps out tight vortices of air to simulate tactility in three dimensional space. The idea is to give touchless experiences like motion control a form of physical interaction, offering the end user a more natural response through, well, touch."
It looks like Aireal can only create a pulsing sensation, which will still be insufficient for sculpting, and I imagine it is a weak sensation in the first place, but I am still interested to see how these technologies improve over time.
It is strange that they haven't done any real demos (that I've come across), but an awesome idea nonetheless. Hopefully they release something more substantive soon.