Such an awesome concept, why oh why did you short cut the execution?! 
I purchased this chair for use in a recording studio environment, where the desks are taller than a normal workspace. This chair does all it claims to do. It rises well above any normal office chair, even close enough to be a barstool! The arms fold up and away and the backrest design does provide lumbar support. However, the backrest is not adjustable, ie; front to back, and because of the "lumbar support" you are pushed to the front of the seat and it is difficult to sit comfortably. Only when you are able to tilt the chair back does you body weight begin to stretch the back and allow you to fully sit on the bench. The arms only go up and down. No height adjustment and, no width adjustment. These small details would likely take this seat out of it's current price point but personally, I would pay more for these options just so i could sit comfortably at work. 
Are you listening Wrought Studio?