Nicotine is not a solid at room temperature. This is probably nicotine pyruvate, its salt with pyruvic acid. Since it is a powder, it will penetrate deeper into the lungs. There was another similar nic inhaler in the works from Star, who made orbs, a few years ago, but I believe it was a pressurized device with a propellant, not a cigarette thing. If this Nic-o-puff works as advertised, it would give a good hit, with fast absorption like smoking, but there would be no flavor at all. If it is the salt, then there is a good chance it has no carcinogens at all, since a salt can be isolated from them, as well as other trace alkaloids in commercial nic.
The good news here is it is pulmonary docs that created it, supporting the relative safety of nicotine itself. Unfortunately for them, safer or not compared to ecigs, I think they are up against a rising tide of ecig fans, and they didn't foresee this when they started developing this. I don't predict a large interest from the public, if and when it is released, but I could see interest from BP to foot the testing bill.