For $12 it isn't all that bad, might get one to just play with, would have liked some sort of USB internal connection to control the power that is given, especially when I have 3 USB 2.0 headers on my motherboard just being useless for some reason.
I hate to steal their thunder but FrozenCPU have been selling devices similar to this for years - simply a hub from which to connect to multiple fans. The Bitspower devices the have even multiple voltage outputs to regulate fan speed. I've had one for 4-5 years.
as said it has already been done but still neat and compact. and echondo look up usb header to molex you can get that cable and use the power from the mobo for the molex input i did it on my case for the front fan since it was the only thing in the area needing power and was righ tnext to the usb headers
It may have been done before, but not with one simple tiny detail this hub has. It puts all your connections parallel with your back panel instead of perpendicular like every other hub out there. So while it may not be a first or a complete reimagining of a simple device it is an improvement on current designs.