I think it would be a fine little tool for what it REALLY is--a narrow scraper for tight spots. Probably not the best use in the applications that they're showing, but they're not inventing anything new here; they just put a handle on the carbide inserts that are sold for helix jointers, planers, etc.--in fact they pretty much tell you that in the video.
I use the Bahco 625 triangle carbide scraper and recently had excellent results with it to remove some stubborn old paint from narrow channels in door molding. For flat glue joints, I don't think you can beat a card scraper--not only does it take care of the glue but you can save yourself a lot of sanding. I consider tuning a card scraper to be an absolutely essential skill for anyone working wood--it has so many uses, and if done right is vastly superior to many (though obviously not all) alternatives.
For narrow scraping like that Woodpecker tool, I've been using either a "flat shovelhead" exacto blade or a small chisel that comes on my Flexcut carving multitool. But if I eventually got some carbide inserts, I can see making my own holder for them--either out of carved wood or perhaps even aluminum.
I personally would not get the woodpecker tool because I already have so many other options: I recently picked up a Narex cranked neck paring chisel from Lee Valley and I also use a Fein Super Cut with japanese flush blade attachment. (I guess you could say that I'm not just "scraping by" in this department!...heh,heh)
A couple bucks off and free shipping would not sway me to get the WP now. The Bahco is actually cheaper, has better designed handle, has options for other shaped heads at a reasonable price, however, it is not as narrow and will not use 'off-the-shelf' inserts like the WP. But, if you decide to get one of the Woodpecker tools, know that those same carbide inserts can be had for a fraction from any tooling supplier although you may have to get a 10 pack.
Even so, I think it's smart for WP to come out with stuff like this. Carbide insert tooling is on the rise for the DIY users. They have added another product to their mix, they've hit that $20 price "sweet spot" that most infomercial products seems to strive for, etc, etc. Good for them; I'm sure they'll sell lots of them.
