I saw this the other day when Balu posted it.
I see nothing but bad things coming from it.
WHEN the frame folds he'll be basically trapped inside a blender hoping the LiPos don't catch fire.
There is a German company that seems to much further along with this idea. Their prototype was equally goofy looking. The guy sat on top and they used an exercise ball as landing gear.
this is the truly scary one though - bunch of two stroke motors and full size propellers. Not sure which flight controller board he is using but I think he need to adjust the PID settings