Not sure what to think of this. On one hand, Reason's sequencer has always been its weakest link, so you can't help but wonder whether it's going to work here. Also most of the features they mention in that video are already implemented in other DAWs, or, at least, just a plugin away. Kinda brings it up to the featureset of Ableton (although I've never gotten on too well with that).
Then again, the Reason integration stuff would be ace (if you already use/like Reason that is). Opening all your reason projects in this? Good. And I still like the reason approach: routing virtual devices together, the creative potential of the combinator.. if those things work as well with live audio as with synthesized, this could be awesome. You could do some incredible guitar FX processing with it.