The point is obvious.
Stick this on the top of a robot and then project the feed on the inside of a sphere. If you in the middle of the sphere you can see whats up, down, left, right, behind by just looking in that direction!
I should imagine with a little bit of software manipulation you could use two of them to generate 3D all around views.
Estate agents already use this type of thing to make those tours of houses where you can pan all the way around the room but they are limited by the up down field of view atm. Looks like this removes that limitation.
MS would also be able to stick this on top of their round table camera instead of using 5 CCD's.
I could go on.