Gearbox: The Two-Second Tent?!?!

I saw this item over at Gadling earlier, and I just scratched my head a bit in disbelief. It's a new piece of gear called the two second tent, which basically is a self expanding tent that you simply toss in the air and by the time it hits the ground, you're ready to climb in. Sound great right? Well, in concept, I'd agree, but when looking at the site, I see the tent in it's collapsed state, and being carred around by a guy like a backpack. Which of course begs the question, where does your uh...backpack..go? I mean, when you're carrying this tent, where is the rest of your gear, as it doesn't seem to fold up small enough to actually fit inside of a backpack. Great concept. Needs more work. Still, for only $100, this might not be a bad tent for the right circumstances. It even sleeps two! :)