It seems to be a prototype of the rumored Canon APS-C sensored "all-in-one" bridgecam.
Olympus tried similar concept with 35mm film cameras during the 90s if some might remember. Those were the IS series -- IS-1, IS-2, IS-3, IS-200 etc. I liked the IS-3 the most and it had a cracking sharp lens (yes, the boring high standards of Olympus) but I don't know if these concepts will work in present times. Only if it is waterproof to a certain depth some UW photographers might find it useful.
Can't say I like the design though -- seems to have been dropped from an UFO by aliens having eyes at the ends of their antennae.