It is certainly less complicated than getting my hands dirty on FPGAs, but I can't find any performance numbers. I'm inclined to believe this is more of a 'secure box' than a performance contender.
You would be hard pressed to try and scale this to a point where it was interesting, imho.
Probably, but at the claimed price point of $1 each, there could be an awful lot of these little guys on a board for much under the cost of a new GPU or FPGA