I'm pretty sure the solution to traffic is not more cars.
Getting a pilot's license costs some $20,000. Fuel costs for small aircraft are sky-high and this thing looks particularly unaerodynamic. Obviously the maintenance costs will be high, since you will be maintaining both a car and an aeroplane. Even if the thing were free most people couldn't afford it.
This will be somewhere between a toy and a business jet. Even assuming it winds up being practical for rich people to use for short jaunts, it will change absolutely nothing for the majority.
I don't want to sound like I'm dismissing this plane. Every pilot knows about the "hundred-dollar hamburger" and flies anyway.