It appears to be a successor to the Hydra. Spend enough money and you can track your limbs, etc. It does make me wonder if two kinects would be a cheaper option and just as accurate, but that’s all speculation.
This will give much better results than the Kinect–advantage is that for one, it’s much lower latency than the Kinect, so the motions will track much more quickly. The sensors can work from any position, whereas Kinect can’t track what it can’t see. It also has a higher tracking area, which can be extended with additional base components. It also has the advantage of having buttons and triggers on the hand controllers, so you can do things like shooters.
It’s also much more accurate than the Hydra, and doesn’t suffer from the warped field issue that had. They went in a direction similar to what Oculus did with their sensor fusion, and use a mix of magnetic trackers and inertia sensors to get both more accurate and faster tracking.