Looks to be an emulator on a flash card inside a replica NES case. No cart slot or expansions. 30 games only. Controllers are NES style but not original NES. I imagine it is running a regular NES emulator so can probably be hacked to play any NES rom.
There are numerous existing ways, both with and without ROMs, to accomplish the same thing, and not limit yourself to just 30 specific games.
Good concept but falls short. For very little additional overhead they could have included the entire NES, SNES, GB, GBC and GBA library. And allow for third party expansion like on the Virtual Console.
http://www.retrouprising.com/other/scoop/coleco-returns-home-console-business-after-31-years/t16667/
Nintendo could have pulled off something like the failed Coleco Chameleon and that would have been a game changer. But instead they just copied the Atari Flashback.