It does look really cool, but there ain't no such thing as a free lunch. More surface area means more drag. More complex shape means higher price for the prop and poor reparability.

That doesn't mean it's bad, or that it won't work. It very well may have use cases that are not served by simpler propellers, and where the price is not a obstacle. For instance, I wonder about very large ships where a little bit of efficiency may pay off the purchase price.