Is this a joke / commentary on patent law or are you genuinely enthused?

It's my genuine reaction. I really thought this is super cool and innovative.

I was about to write that there was an app for sharing between phones that used "bumping" but when I searched for the name... it's the same app :)

While I have not previously seen an app that uses key input and accelerometer data like this one, there have been some academic publications that discuss pairing using similar accelerometer readings:

Hinckley, 2003: http://depts.washington.edu/dmgftp/publications/uist04/uist_...

Mayrhofer, 2007: http://comp.eprints.lancs.ac.uk/2230/1/TMC-2008-07-0279-3.pd...