It looks cool, but seems pretty limited to the "stereotypical" side of chiptune, imo. The idea of chiptune is not all about cutesy fast arpeggios and blippy drums, but more about pushing hardware to its limits. It'd be more interesting, imo, if they allowed for more extreme settings, e.g. faster arp settings, faster / higher intensity LFOs (into audio rates), parameter/sound locks etc.
At the moment it looks like a cute addition to a bigger setup, but really, it's cheaper to get a DMG and LSDJ or Nanoloop; you'd be able to easily achieve those base sounds, but then take them so much further due not only to the parameters allowing more extreme settings, but also being able to define "instruments" and swap between them within the same channel.
Having said all that though, I do like the idea of the µAcid8; I personally think that's a better choice.