The video on their site is terrible. It's some kind of artsy impression of what you could do with the suit. That's all fine, but it gives the impression that the suit is just some kind of band that you pull around your chest and then lights up.

Furthermore, there is no way that they can do all the things they imply in the movie. Getting hit by an arrow, or feeling like drowning is going to take a lot more than just a flimsy suit with haptic feedback.