I like what they are trying to do here. If I had gobs of money I'd love to own one. Power supplies have not changed much over the last 20 years, so I see it as a long overdue breath of fresh air.
With digital units and the new efficiency standards, the power supply market is really trying to meet all possible niches and configurations. I did not see in the article exactly what components are water-cooled, but I imagine the transformer mainly.
For $700, you really should be getting a 10 year warranty. Just look at the other units north of 1200W and platinum or titanium efficiency. A 2 year warranty for this kind of investment makes this PSU a novelty, not a competitor. Still, kudos for innovation and Bitspower partnership.