It's worth watching. For what Fender is going after I think they pretty much nailed it. The pickups do sound great if you're into that whole tele-twang-thang and their demo guy - a seasoned guitar pro - does a great job talking to guitar players about something "new" while playing regular guitar stuff some may know and be able to relate to.
An old marketing adage goes - "it's easier to sell somebody something they want to buy than to convince someone to buy something they don't need" - so we'll see how successful they are in convincing guitar players to pony-up for 2 less strings. Especially for the cost of a real Telecastor.
Targeting uke players may make more sense since they wouldn't need much convincing and the fret-markers work for that tuning.
Targeting traditional tenor and mandola players would make even more sense since we've been waiting for years for affordable tenors and are an active buying market.
Time will tell if Fender's approach pans out.
I'd like to see them do a short-scale Jaguar with those pickups (done as humbuckers) under the Squier label.
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