Stereo 3D is Stereo 3D, an image rendered twice at slightly different perspectives. Even if it is alternating between two eyes, 3D glasses have the same performance hits as VR even when doing just that, just without the increased FOV. Stretching the FOV.... that sounds very poor and would likely result in unacceptable visual distortion. I read DocOKs article on the device, of course as it stands alot of it is based on speculation but I consider him extremely knowledgable in all things VR, it might be worth a read if you have not already.
Personally I see a lot of marketing jargon and reassurances that the things people think are not possible, they have under control. I don't see it and won't believe it until I do. I see a lot of risk for potential backers here, not that I don't think they'll deliver but at what they do deliver - a device with an unrealistically stretched image with distortion which PCs struggle to drive.
Would love to be proven wrong as after all the devices specs are the holy grail of current VR devices.