What they have "invented" appears to be pretty ridiculous, yes, but you are attacking it from the wrong angle. What you are saying is that what they describe isn't suitable for a certain application, namely what you think when you hear "cloaking". Science isn't about finding applications, though, it's about making discoveries and understanding how nature works. There might be other applications that you can't think about right now, and if science would limit itself to what we now know is useful in some particular way, much of it would never be discovered.
However, here is the real problem: Where is the scientific discovery here? All they have done is placed a series of lenses in a row, focusing the rays at some points, which means you need to be closer to the principal axis to block them there. (Notice how they never cover the centre of the "cloaked" area.) Lenses to that, though; focus rays. They have just named the volume surrounding the aperture "the cloaked region", fiddled with lenses to get it narrow, and written a paper about it. Pretty much any optical system containing lenses will have such a "cloaked region".
It seems scientific funding today has gotten so concentrated on quantitatively measurable output (meaning the number of published articles) that people publish any little trivial idea they have, preferably multiple times with slightly different wording, or in very small steps to extend it over as many articles as possible.