I have never seen one and don't know anything about them but that won't stop me from making a few observations.
1. It seems like the drag is not very big in diameter.
2. There is an exposed gear that is probably for a click. I don't like reels with an exposed gear.
3. There are a lot of screws holding every thing together. You will have to on top of those screws or LockTite them.
4. The spool does not mate into a groove on the frame. I think the chance of getting the fly line or backing between the frame and the spool is high. That would be especially true with backing.
5. I don't like the way the reel seat is attached to one side of the frame. Atari use to be made that way and I guess it worked. Not the way I would have done. With this reel it seems that the real seat will have a lot of leverage on a frame that is not too sturdy.
This may be the best reel ever built and I am just looking at a drawing. So don't take my comments as gospel.