As mentioned in the article, this cereal box is similar to the one in the movie Minority Report. The part that scares me about this is how much work is going into something that is going to be thrown away. What impact will this have for landfills? I wonder if more wholesome organic cereal will shy away from material like this in order to portray a more natural product.
In terms of interaction design I really like the idea that you could know if the item was in your pantry or not by checking your phone. Although I'm not big fan of having to open an app to check something like that. I remember about 20 years ago this one grocery store near my house experimented with having lcd screen on the fronts of the shopping carts. As you walked past certain aisle you could get coupons or advertisements.
If the box was in my trash (which happens to be next the shelf where I keep my cereal) would the app still say I have cereal left?