I don't think it's all smokes and mirrors. I think there was likely a legitimate intent. After all, everyone has been talking about using microfluidics and microliter quantity samples for assays for nearly decades. It seems like the time is right in terms of tech maturity, for these things to hit clinical reality... Why not try to be the first on the scene?

FWIW, this isn't the only company to be trying this sort of thing, there was a company in the first batch of indie.bio claiming to do this, perhaps tellingly at demo day, the attempted live demo failed.