If you'd have said to me, what do you think about a paper bench I would have been like.. what?, but this is actually pretty cool and although not a piece of "furniture" which you would likely use day-to-day, I could see it being useful when you need extra seats or when you don't have a large number of seats at hand.
As for the price, I'm not sure that $299 is necessarily worth it for the amount of use I would get from it, but I'm sure others will disagree.
Overall nice hunt and interesting to look into :)