What is it? In short, it is a device or devices that are set up around a location, in this instance, the Apple Store. They track your location more precisely if you allow them to and can give you more access to things in the store.
For example, you can walk up to a Mac Book Air and get all the specs on it. Or you can walk up to an iPad and it will show you accessories that go well with it.
The capabilities and variety of settings that it can be deployed in are innumerable.
Other possibilities could include going to a zoo and getting the facts of the animal that you are looking at, going to a machine in a store and having your phone give you directions on how to use the machine, or even something that gives you not only the coupons for the store that you entered but could give you coupons depending on what aisle you are walking down or which department you are in. Imagine going up to a map on a wall and then having a message pop up automatically on your phone that gives you access to that map.
The down side is that people are so concerned with privacy these days that people might have a hard time allowing these messages to come up on their phones.
The fact is, we already use bluetooth technology all around us. It is just a different way of implementing the things we could use, like coupons, information, or other data.
Looking forward to the new ways that this device could be implemented into the different areas of our life.