I really would LOVE for it to succeed. I like the idea of having an FPGA inside a console, and not just for hardware emulation purposes (Would that properly be called "emulation"?). Plus, the idea of some devs releasing games with the same quality standards as older systems would be great (game would have to be bug-free on launch, etc.).
But, there's no way the FPGA inside of it can be high-end enough to really show its benefits compared to standard CPU's/GPU's, that would just be too expensive. So it would be relegated to doing the console-core thing, and be something for dev's to play with (but that won't really affect users too much). Most developers, particularly indies, are also very reliant on internet updates now, so they would probably avoid developing for it immediately.
Might be a good Retron-3 replacement, though.