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Looks awesome, but they are going to have to contend with battery life issues (for the projectors mainly), and visibility issues (the projector/keyboard etc would be nearly invisible in any kind of lighted situation).
Those are the least of this concept’s issues. Who would take the time to design, QA and build this phone, not to mention put it into production, all the while not co-opting or diluting the vision put forth by Mozilla?

There’s a lot of hating on business-people who “just need a technical founder” to take 500 bucks and actually build the app. This concept just needs an entire business to re-vamp it’s R&D division to implement Mozilla’s idea. Physical production’s a ton more coordination and effort than most apps, and it doesn’t seem fair for HTC or whoever to take complete stake to do Mozilla’s bidding.