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Gimmicky. I don't really see this working in real life. Especially if you end up seeing a picture on both halves of the screen and then they just blend and become unintelligible. You may think LG could prevent this from happening by making changes and upgrades to their android rom but LG has a pretty sour history with glitches and bugs.
A phone with size of almost as big as a Tablet (Fold) and as big as a Laptop Screen (Unfold)? Who want to carry that all day?
The only I could think of is by put that "big" thing called phone in a bag. Today Tablet accept SIM Card by the way, go figure.
Mobile Phone can not more bigger than today (21st century) biggest standard.
Remember Motorola StarTAC? A flip phone (clam shell type). It fit in your pants pocket. Maybe if this "new flip phone" as big as that I would consider to buy.
Well, I think what application this will have? Very often nowadays Tech is pretty much improvement than real creation. Take for example smartphones versus old cell phones. It was a wonderful transformation. It changes everything, since OS, APPs, even the way we search for files now is wholly different than before.