I saw this a while back. My first thought is that it may actually benefit some players who are physically handicapped but for a person without physical limitations it just seems pointless. If I was playing a guy that pulled this thing out of he cue case I would have a hard time trying not to laugh.
I did however come across a guy who brought a laser cue to the pool hall once. He was convinced he had an edge until the 1st guy he played relieved him of his walking around money. I wanted to play him for the cue so I could hang it up in my pool room like a trophy but he wouldn't do it.