It's worth keeping in mind that the system can only correct the image as viewed from a single angle, so if you wanted to use something like this for multiplayer you'd be out of luck unless you're all squeezed in right next to each other. It also requires a camera at that viewing location (i.e. where the player would be) in order to calculate the corrections, so it's not going to be a magic "drop down your NX pico projector and there you go" solution. It could make sense as part of an AR system if the user is wearing some kind of headgear that a camera could be strapped to, and if you adjust the in-game camera angle in response to the player's movements too you could get a kind of poor-man's hololens effect from it.
I'd firmly put this in the category of "exploratory R&D" Nintendo patents rather than "actually going to be in a product" Nintendo patents, though.