Phaedrus' post above came too late for my order, which arrived today. It probably would have been smart for me to check YouTube before making the purchase.
This truly is designed to be a picnic blanket or ground cloth rather than a blanket for warmth. It's very thin and lightweight, but settled neatly on the carpet for a brief simulated picnic with my daughter Destructo. It folds up neatly and easily into its built-in pocket, at least when clean and dry. The sewn-in folding guidelines help quite a bit with that.
Based on my ten minutes of tinkering at home and no outdoor experimentation whatsoever, I would not recommend this as a replacement for a Heatsheets blanket or a silnylon tarp. As a very small and light picnic blanket, it seems like it would be competent if a bit pricy.