What a neat concept. I love to see innovation like this. Sure, it is markably worse throughput than basically anything else, but it's something completely new.
The only situation I can see this being useful in is if wireless RF is being monitored, or a mass gathering where uni/multi-cast is simply infeasible.
As it is now, at least. Would love to see it developed further. I have serious concerns at how well it'd function in low light.