I think the manufacturer might have the initials P.T.B.! "There's one born every minute!" If that item is combined with a dynamometer, a wet bulb thermometer to calculate relative humidity, and a barometer to assure the atmospheric pressure hasn't changed since the last mixture adjustment was made, it might be of some benefit. Temperature sensors in every exhaust port made a lot more sense, as we could spot when an individual cylinder was running a little lean. That's how we did it for years when tuning racing engines. Then if the thing lasted a thousand miles before it wore out or blew up, we were happy campers!
Jerry