I believe there's a major omission in that it can't take external microphones so sound won't be worth much when in a case.
They plan a bluetooth mic which sounds OK in theory but seems odd this still isn't available.
I agree with Fish. Not dissing a camera that I haven't seen myself. Rather, when they offer something half built with promises for future pieces (housing, mic, etc.), I'm very dubious. This camera does seem to be a serious rival to Gopro models when all tricked out. Let's see if it's more than a flash in the pan first.
It's amazing to me that Gopro has totally surrendered the momentum to cheaper competitors. When they let aftermarket folks design better mounts and useful accessories, that seemed a reasonable business proposition: let someone else flesh out the cheap stuff for us at their expense while increasing the utility and attractiveness of our base product. But losing the momentum to not just cheap knockoffs, but actual rivals, is downright dumb!
I still contend that what Nick and company need to do is get out of the extreme sports niche only mentality and get into the consumer market. Some sort of zooming capability (optical) combined with a good digital stabilization in camera scheme would position them to enter the entire consumer camcorder market with something that your cell phone cannot match: that rugged sports and outdoor utility. Now that would be great for Gopro 5.
Not some niche market drone that will start life as another "me too."