I am a satisfied Bakflip user (several years) and I like this cover!
One nice benefit that wasn't mentioned is it leaves the bed rail tops open so a rack could be put over it -- the thinking here includes the options for a nice, large Gobi-style storage rack or a rack to hold a Roof Top Tent! In either case you could have a bed rack for tire/jack/etc. storage as long as it didn't extend up to the underside of the cover or interfere with the cover folding down behind the cab.
I don't see the pull strap as a concern since it could easily be replaced or you could get into the bed and pull the cover back into place with minimal effort.
I'm glad the video showed how it locks so security isn't an issue. And a locking top is more secure (probably) than the Bakflip.
In the video the guy closed the tailgate while the cover was in place, fully extended. That's not something the Bakflip owner is supposed to do so I've become accustomed to popping up the last panel when shutting my Raptor's tailgate (with the Bakflip).
The only "concern" I have after watching the video is the finish of the panels. They look to be smooth which probably isn't as good as the textured finish of the Bakflip panels since the smooth finish will show every nick, scuff, ding, etc.
If this isn't a patented design I expect others (like Bakflip) to copy it. Certainly some Chinese company will do that anyway (just say NO to Chinese products!).