Looks well built, like all GigRig gear. If you have the specific set of problems that it solves, I can see it being really useful.
The wet/dry/wet setup they seem to be targeting is pedals into clean amps, which is certainly the simpler way to do it. I prefer the classic 80's method of splitting a preamp signal to parallel stereo wet effects, but admittedly that's the only way I've ever tried it.