Well, this might make an interesting one for a young kids room, but as much as I want to like this its not easy to think of a real market for it. It certainly looks like I could slap my 22" LG monitor on top of my PS2 and effectively end up with the same device.
I've noticed some people in the comments saying that 720p is not enough, and it should really be 1080p. I kind of agree but really, it should not even be 720p.
Most PS2 games were built with 4:3 SD in mind. A limited few support 16:9 widescreen resoloutions, and even less support 480p Progressive Scan mode, necessary to make the game look half decent on an LCD. The result is most PS2, and near enough all PS1 games will look rubbish on this compared to how they would look on an old 22" CRT you could pick up for about £15 at your local cash converters.
Throw in an old school PS2 sound system, a used PS2 and youve probably got a better solution for less than £100