Personally, I think you'd be better off just carrying a micro .380 like the Ruger LCP or a NAA Mini Revolver in .22WMR if deep concealment is a concern. Heck, you could probably find or otherwise craft yourself a pocket holster/case that makes the LCP look like a phone/wallet at a glance yet have a more practical self-defense weapon with higher capacity.
Typically I dislike calling any weapon a novelty, especially due to the fact that the term has become something of a blanket insult in colloquial speech among the more ignorant posters on various forums, often used arbitrarily to denigrate pretty much everything the poster doesn't like or can't think of a personal need/use for, but in this case, such would seem to be an appropriate term to describe this weapon in particular.
That said, far be it from me to go joining the arrogant legions of folks who seemingly cannot resist critiquing the carry choices of others, much less go making presumptuous recommendations for what other folks ought to carry as if there's some sort of ideal one-size-fits-all firearm, so if anybody wants to carry this or thinks that this is a good idea, then that's your prerogative. Lord knows there are a few firearms which I use for self-defense that not everybody would consider to be optimal.
However, there will almost certainly be someone else coming along shortly to tell everyone in this thread to, "Toss that toy into the toilet where it belongs with the other turds and pickup [insert whatever poster carries here] cause when yer out there on the mean streets surrounded by a group of gankerbackers circling the chuckwagon on their motorscooters you'll be needin' a serious weapon to fend 'em til the coppers show up to carry 'em away in a paddy wagon!"