Re: Sorry to be a killjoy, bit it's dumb.
"'just another thing they plug into their PC with flashing lights'
The fact that Samsung is on board as a partner and the Bit thing has Bluetooth, I'm hoping that it can be controlled/programmed via an app on a smartphone. If that is the case, then many more kids will have access to it to"play" with outside of school.
I used to teach computer skills, including basic level programming, to YTS kids many years ago, initially on BBC Micros. They always got more interested in the programming side when there was things to plug in and lights to flash instead of "just" things on the screen. It's amazing how much fun they had "learning" about basic loops and branches to make pretty patterns and beeps instead of how to calculate when their mortgage would be paid off. The boards were a project for the YTS kids learning electronics. They had fun learning what was needed and developing the board then seeing it put to use in ways they hadn't thought of ;-)