> "Fun with no limits" is a stick and a paper hat.
This is what I came to say. This thing has a limit, and that is that you are tethered to the thing. And as an electronic thing, it is relatively fragile. You can't take it into the sandbox or a snow fort, and you can't get it wet or muddy. It looks a sit-at-a-desk toy, and that's just not a natural state for kids.
When I was a kid (and now that I watch my kids play), we were all over the place (backyard, woods, indoors, basement) and playing with all kinds of non-toys (sticks, rocks, couch-cushion-forts, and on rare & precious occasions a huge cardboard box or section of discarded pegboard) and putting toys together in unexpected ways (matchbox + lego; scraps of lumber + any toy => catapult; does every kid use their bike training wheels to prop up the bike in order to make rooster tails in puddles?).
For $60, I can buy a giant pile of stuff from the hardware store that we can use to make all kinds of "burglar alarms" (rube goldberg machines to ring a bell -- a favorite rainy day activity) that will involve a whole bunch more learning than anything like osmo can provide.
I'm somewhat biased towards being anti-technology, but it's really a bias against technology for technology's sake. This thing may be fun, and if that's what you want, go for it, but I can't really see that it's solving any particular problem per se.