Oh give it a rest. Do you think the first rockets carried satellites into space? Do you think the first airplane flew across the country? New tech doesn't start out as the end-all-be-all, it starts out as a baby step and people with higher aspirations improve upon it until it's something you never thought possible. Your attitude of "It's useless because it doesn't do what I imagined" is just ridiculous.
It's not useless because "it doesn't do what I imagined", it's useless because it's been done a thousand times by different groups of people since the 90s. The idea and application is not even remotely new. And worse, it's subject to the same limitations that all the other projects are -- they need something metal to hover over.
I would say as well -- just because it hovers, doesn't mean it has any sort of load-bearing capacity at all. And that's the whole endgame of getting something like this to hover in the first place.