It seems like a niche product.... the big selling point is a very simplified interface so that whoever can use it, but that probably means it's totally unsuitable for "real" work.
If the build quality is good and the performance is reasonable, it could have a place.... but because a pocket meter is small and the screen/body part of it is actually pretty cheap, it seems like saving on the screen and processor and going with a phone actually doesn't have a point. At least with the scope equivalent there's more to show so you'd need a more expensive/large screen in a standalone unit and you save a bit more space.
$50 doesn't really seem like it's going to be competitive with any regular meter in that ballpark (and I have some serious doubts about the included protection, which also calls into question its suitability for those not knowledgeable about electrical stuff, which seems to be their intended audience), but if the simplified interface is good and is fairly complete in terms of covering lots of normal tasks, maybe there could be some value for someone who wants to check on things (or do basic repairs) without much knowledge of what's actually going on.
The safety thing is actually a bigger deal than it may look... under safety they only mention ac/dc/resistance detection based on the application, I don't know if it'll even be CAT rated.
Also the 'what makes us different' section is a whole lot of non-factors
Unlike traditional multimeters, Vion consists of a pair of probes without a bulky body, which eliminates hassle. Vion is lightweight and compact.
While existing multimeters require exact proper placement of the rotary switch, Vion's automatic mode measures with the probes, whether you put it on a rotary switch, on an AC switch, or on a resistance switch.
For existing multimeters, if the placement of the probes is off by even a little, the multimeter’s internal circuit board (PCB) may be damaged. Vion, however, is easily manageable, as there is no body or internal circuit board.
The measured values are automatically stored in the app, so you don’t need to manually write them down anywhere.