It looks like you wouldn't need to disassemble it to use the individual tools. You would just bend the band at the hinge so the proper tool sticks out. But the tools would indeed be awkward to use. Even more awkward than a standard multi-tool, which itself is awkward compared to real tools from your toolbox.

It's an interesting concept. I would only consider wearing one if it would be part of what I already wear, like the watch example in their picture. But I doubt I would want their watch. I would want my own, personally selected watch to attach to their band. In the picture, it appears that you have to use only their watch, since it is attached with screws. I wouldn't expect them to come out with a good watch quite frankly. They would probably provide the most expensive, least functional, cheapest to manufacture watch possible. Also, I'm thinking your watch would weigh about two pounds with his band attached to it.

Still, it's an interesting concept. Most interesting to me is the modular aspect of it. Create your custom band with just the exact mix of tools that YOU want, not what some product designer wants. That's the problem I have with normal multi-tools and SAK's. You never find a model that's exactly what you want, you have to make compromises and do without some tools you do want, and accept other tools that you do not want.

I would like a modular multi-tool or SAK. Now THAT would be something highly desirable for me. A basic frame that you could attach tools to. So when you have to fly somewhere, you could remove the blades to keep TSA happy and still have all the rest of the tools, or maybe even add more tools to use the space freed up by removing the blades.

p.s. - If you look at Leathermans watch face in the picture, you can see how they tried to make it streamlined and cool looking. See how the crystal appears to bulge outwards from the watch case? Cool looking, but horrible for real life. That crystal would be so scratched and chipped in practical use, with nothing to protect it. The better watches protect the crystal with the case, Leatherman appears to want to protect the case with the crystal, a non-workable and poor design choice.