I used to work there. You're right the sensations are too weak and indistinct to be useful. People who haven't tried it probably think it's like touching an object. It isn't. It makes a patch of your skin lightly vibrate, which is a very different sensation, and it only really works on your palm.

It's a really really cool tech demo but it kind of blows my mind that went further than that. The device is always going to be super expensive, and it just isn't anywhere near as good as actual buttons. Buttons work really well!

There are some situations where you can't use buttons, like VR. But they're reaaaally niche. I can't see Ultraleap surviving.