That's pretty crazy. Given certain applications, you're pretty much creating actual items out of thin air. Like for instance, if you can create a screwdriver-shaped thingy that is "feelable" enough that you can actually turn a screw with it, then... you don't really need an actual screwdriver. Plus you can just make it disappear into thin air when you're done with it.
It would only feel real to your fingers. You would still need some sort of hardware interface for the actual screw--a robotic dog, perhaps.
It doesn't apply much force. The video shows it barely deforming the surface of some water.
More importantly, it presumably can't apply any torque.
Would be really interesting to combine with creative activities like this VR sculpting demo: