No you're totally missing the point. This is holographic photography. Capturing the entire light field means this captures depth. I'm surprised they're not touting this on the web site -- there are already 3D displays. Perhaps they don't have the processing technology yet?

Edit: Yup here it is: http://blog.lytro.com/news/it-gets-better-lytro-3d-demo/ They can do more though; with a proper holographic display you could actually focus on different parts of the image (with your eyes) and "see around" objects to a limited extent. (Their field-of-view-to-depth-of-field ratio is limited by the size of the lens though.)