In essence, it's just inventory control. There are quite a few companies that make systems like this (my company uses a few for small tooling parts). I see this being relevant for small fab shops or similar who don't have the capital to invest in the larger, more unified system - but still have an issue with misplaced tools. So they make DIY system using a prototype board and some basic sensors. In the end, this is a very basic prototype that is more of a proof of concept than a practical prototype. And definitely using a bunch of tablets could be a hassle in many places (though I'm sure Intel has them sort of just lying about for everyone). So a badge RFID/barcode scan or keypad would probably do nicely for entry and some sort of automatic unlocking/locking mechanism is naturally required. Also, I could definitely fool some silly little optical sensor with dark tape or a small piece of paper - so I think in the long run, you'd have to improve on that. But all in all, it's a clever little solution.