Because a lot of work has been done into making very good sensors and optics for phones, this approach does make some sense. It also lets you have more sensor surface area without the bulky optics. I'm pretty sure that there are telescope arrays that work in a similar way.
I'm not about to replace my cameras with these, but it's got potential.
There's more information in http://www.theverge.com/2015/10/7/9473793/light-l16-16-lens-... and http://www.technologyreview.com/news/542121/a-high-end-camer... .