It’s definitely a gimmick as a traditional display. It can’t even make proper use of transparent videos: it’s just transparent when the microLED is off, so the darker the pixel colour is, the more transparent.
You can make the transparent channel of a transparent video display as black, but any black parts of the video that aren’t meant to be transparent will end up being transparent anyway.
Is not completely a gimmick though: it could be very useful for a HUD(heads up display) such as in vehicles or in augmented reality HMDs(head mounted displays(AR goggles such as Microsoft hololens and google glass))