MagnetU – and you're never alone

MagnetU is taking social media back to the streets:
„MagnetU is a tiny wireless gadget that has a relatively short range. First, you must create a MagnetU profile on the Internet, complete with your personal characteristics and interests. Once you got that down, you go out and take the MagnetU device wherever you go.
Then, when the device picks up another MagnetU user in the area with similar interests as yours, it’ll send an SMS to your mobile phone giving you the person’s characteristics and vicinity. The other person also gets an alert about you, and then it’s up to you whether to call them up now or connect via Facebook later… which sort of defeats the purpose, don’t you think?“
What I think? I’m terrified by the thought of not being able to take a walk without my phone suggesting a new soul mate (OR not suggesting anything at all, for that matter, since my parameters might be so out of line). I have trouble keeping up with Twitter AND Facebook. Plus I already failed at playing Tamagotchi Connection so I might be the wrong target audience. 
If the software expands past the realm of finding a young attractive love mate it might get interesting though – job search, neighborhood watch, crime scene, big brother! there might be no limits. IF anybody signs up for it, of course.