Re: He has a point, but also contradicts himself
*Humour me and let's assume you're not a f###ing defence contractor who can't even plug in a keyboard
Looks like a great device. My concern would be around the security of the phone and how the credentials are stored and used. If the user only stores their password on the phone, doesn't associate it with the company readily (ie stores it as "work password" rather than "RBS Server Admin") etc that could mitigate some risk, but I'd be a bit concerned if a person stored credentials in a way that someone nabbing the phone could break. From a brief look at the page if I buy one of those sticks and plug it into my computer, then it'd be trivial to get the phone to spit out the stored data.
But where people are sensible with it (eg storing all but the first or last character of their password, so even if I did get it I still have a high chance of not being able to get in) then it could make a useful portable password manager. Though I think software on the computer/company network (associated with that person's account) would be good.