I think we have all got it wrong. That amp is strap mountable - minimises the signal loss from bass to amp.
Then there's a long trailing cable going across stage to the speaker cab... and of course, the one that goes to plug socket.
It's groundbreaking stuff.
Seriously though...
If the Elf was cheap enough, I'd consider getting one for the home or little acoustic get togethers... maybe this is the taster before the big guns come out. If you consider this as a starting point, going up against the likes of say, something like the D200... with the vision on going onto something more akin to the GB Shuttles... then maybe they are onto something.