Seems like a neat concept. As long as it included some software that made it reasonably simple to make videos switching between footage, it would be cool. I don't know about the camera design though, looks a little awkward. Probably would be even better if you could expand it out with various remote lenses rather than be stuck to a 360 view, so on the bike you could mount cameras to aim at your suspension (front/rear) along with the traditional front/rear views.
