I don't believe their precision. It's very, very, very unlikely that they will get below the 100 micron precision. I've made a laser scanner with fairly expensive (industrial grade) computer vision cameras and I wasn't able to even get -near- the 100 micron precision. Let alone what they claim to get.
If you look at the 3D models you can clearly see that they don't reach the 100 micron precision. More like 300-400 micron.
My first idea for a 3D scanner was actually this, but I scrapped this idea for a number of reasons;
1. If you move your phone (pressing the interface, getting a call, whatever) you need to recalibrate. Laser scanners can take quite a time to calibrate.
2. If you want better scans, you need a phone with better camera / lens. Buying a whole new phone just because you want a better scan?
3. Support -hell- Everyone has a different phone, with different specifications (so they will get different results / issues/ etc). Also note this in buying; Your quality will greatly depend on the quality of your phone!
4. Laser scanners are known for being slow. Very slow. Both because they need a -lot- of images for a proper scan. Their setup makes it even worse because they use a phone. Edge detection (if you don't want a completely naive solution (Something more complicated then thresholding like Canny or Hough)) is a nightmare. Using the naive approach will work, but only in lab-like conditions (and on certain objects).
They use a moving laser, which means that for a single snapshot, you will need about 400-500 images. Due to syncing, you can capture about 4-5 frames a second. For a full scan you generaly want about 12 snap shots. This means a full scan will be about 20 (!!) minutes (compared to a projector based setup, that can do the same in 2 minutes).
They are also using a color camera, which will impact the quality of the model due to the Bayer filter in the camera. This is also why they use a green laser; Color cameras are twice as good with green light as with other colors.
I do have some good things to say about this though;
It's cheap for what you get. It's also a step up from regular laser scanners, as the laser can rotate (which increases the number of objects that you can scan).