Delightful in it's way, and the miniaturized motor and wing linkage is interesting.
However, it's not properly described as a "robot" as there is not even semi-autonomy nor any reactive system. Nor is the device an "insect" in that the lift is not replicating any find of natural wing action- there's no beetle, dragonfly, or bird that has completely vertically oscillating wings that also do not change shape. I suspect that some degree of stability is due to the tether wire. The ground effects lift system limits the height. The reason it can't be internally powered is the inefficiency of the wings- they should have just used a rotor / fan. It's not a robot insect, it's a highly inefficient, relatively unstable, wire-controlled hovercraft.
This is far from being a candidate for any practical use> besides the height limitation and inefficiency requiring external power, motion is limited to two axes - up and down and side to side- there is no 3-axis control. The military use would be limited to applying for grants.
If the Wyss Institute is funding the adaptation of biological structures to technology, they should ask for a refund. There is success in miniaturization, but if the power and control is external, the total size of the system has to be considered- and that would include the power supply, control, and the person operating- it's a 100kg system. Overall, an unrefined and almost comically limited concept, inappropriately described.
What a technological breakthrough- wire control and external power supply one-hundred fourteen years after Tesla's radio-controlled boat!
Cute as hell though!
BB