I don't agree. In Africa where not all ppl have access to the electricity grid it have practical use. Together with google internet balloons plan it might be a game changer.
They also have a camping version: http://www.biolitestove.com/campstove/camp-overview/features...
The tech used in either of these (http://en.wikipedia.org/wiki/Peltier_effect) has been known of since the 1800's - in the tech world we usually see it applied to exotic cooling solutions for microprocessors.
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I think for the most part you can actually run either type in either mode, but the design and materials differ for optimal efficiency across the 2 modes.
FlameStower is a folding unit which extends a thermocouple panel over a fire (gas stove illustrated), with a water holder for cooling.
BioLite is a cylinder which you build a wood fire in, has a thermocouple rod extending into, is air-cooled, and includes a fan (improving fire efficiency) and battery for running the fan until the thermocouple kicks in.
If by "same product" you meant the two BioLite products...
The BioLite CampStove is a small unit suitable (barely, considering size & weight) for backpacking; fuel is inserted in the top. The HomeStove is MUCH larger, and fuel is inserted in a gaping hole in the side; it is also designed (moreso than the CampStove) to minimize smoke production (very efficient burn using the fan) to reduce the large number of people (millions?) who die of cumulative smoke inhalation from cooking fires.