The Reg has featured this device because their readers have been expressing a desire in such a device for years.
The hinge was a crucial part of the original Psion device - the Reg readers who used it know why - and not just a small detail.
This Gemini is still being crowdfunded, so I'm not surprised they haven't finalised the keyboard, which will be the hardest part to get right. Prototype, test, repeat. They will, but hardware development takes time when you're doing more than just assembling off the shelf parts from ODMs. There is no point in them showing off a V.0.6 keyboard.
Speaking of which, most other phones at MWC are boring oblongs, much like the one you probably own. The Gemini is interesting.