Dot: 360º video capture for the iPhone 4

OK things are getting out of hand. There is now an attachment for 360 Degree image video for your iPhone4. So what does it do? "Dot lets your iPhone capture immersive, fully navigable, panoramic video in real-time - and share with friends on your phone, as well as on Facebook and Twitter, or streamed online using our awesome panoramic video web platform and player." Neato device! This technology changes by the second.