Ultimately not much of a value prop for me, but was very fun to play with for a few days. I don't think the app could be used to actually export a model (for printing, say), but their website today looks like they have other applications besides their Instagram-like sharing app.
You're assuming that CCDs are perfect image sensors that don't have noise to cause feature trackers to jitter.
You're also assuming that sparsely featured objects only need simple back/belief propagation to make a good model, finally doing it in less than ten hours on an iphone at anything other than <320voxels^3 is pretty impossible.
Even decent commercial laser scanners only have limited resolution at this scale. Your best bet is either lightfield capture or http://web.media.mit.edu/~achoo/polar3D/camready/manuscript_... (which I've not read fully yet, however looks pretty sexy, even if its not very general.)
But it's not the only way. There's one notable alternative method, which is LSD-SLAM: https://github.com/tum-vision/lsd_slam
In general, it's extremely hard to get good quality models from a cellphone camera. Believe me, thousands of innovative researchers are trying their best to make it better.
The best work I've seen recently (from MIT) uses two sensors with different polarization filters to get an additional signal to help with noise rejection and surface estimation.
Microsoft was/is working on something similar[1]
I tried the app on a chair and an object on table. It's far from what kinect can do. I am optimistic about it though.
[1] http://blogs.technet.com/b/inside_microsoft_research/archive...
Unlike Kinect this is a passive sensor technology which has it's own advantages (it works outside) and disadvantages (it does not work on completely textureless areas).
Quite interesting to see the idea pop up every few years.
[0]: https://itunes.apple.com/us/app/mementify-your-finest-moment...
The advantage of offline methods is though somewhat higher quality. We can add cloud post-processing later to refine final models - especially for the purposes of 3D printing.
Anyone know if there's an equivalent piece of software for a desktop computer, preferably linux compatible?
The site mentions this is a new technology, how is this different from traditional SFM type algorithms which have been around for almost a decade now?
That's what I get on my iPad 2. Why?