This is indeed a serious toy. Although you can't compare its features with a standard sequencer's functions, it has the advantages of being rather small and transportable, and to provide sounds/songs very quickly. Also a perfect tool for outdoors and I guess the results are highly inspirative in case you're looking for some fresh ideas when stuck in an electronica/industrial composition.
Already found a couple of demo tracks in the net - might cut out some bars and use them in one of my next tech tunes.