No, he's more or less correct. The system boils down to a non-rigid "rigid tube" - using an extremely stiff "bladder" inflated by gas of sufficient pressure that it will matter little whether it's at 30' or 300' as to how compressed or expanded the bladder is. Based on how much high pressure gas you add into the rigid bladder, you can set it to provide approximately X lbs of lift throughout a wide array of depths.
The reason it's being sold as a 'set it and forget it' is that (1) it's supposed to be activated after the initial decent, when most of the buoyancy swing in neoprene should have already occurred, and (2) the designers aren't really thinking about the fact that some divers burn through an enormous amount of gas over a dive, such that weight swings of as much as 15+lbs per tank/30+lbs per set of doubles can occur.
But for someone on a normal single tank dive with minimal neoprene, they should be able to drop to 30' or so and then dial in whatever positive buoyancy they need to achieve neutral and then do the rest with breath control; even if they drop another 100', the positive buoyancy from this device will remain more or less constant, so the only swing will be neoprene compression making them negative and gas usage making them positive.
This is probably way too much complexity and failure modes for the only divers it would suit, however - single tank tropical divers, maybe single tank dry suit…definitely not someone in 7mm neoprene - and would not work as well for tech because of the extra large gas volume swings (among other issues). Putting it on a mini-sub, though…great idea.