I've heard about it but never used it. It corrupts the disc structure which makes it hard to rip/copy and can also cause it to not work on all standalone players.
I have to admit the theory of it is good on paper and it was originally a pet project from my understanding. It dates back to at least early 2006. As far as taking that and turning it into an international form of copy protection for multimedia... that's a whole different story. Making small-scale personal info hard to copy is different than movie studio(s) and an industry that is a utter juggernaut holding us hostage which is what Sony has done with messed up disc structures. And, yes, truly the wrong direction.
If you want to keep personal information safe, this is definitely not the right way. Use something to encrypt that information and of course make sure any backups are also encrypted. (You'd be surprised how many people forget that step). I see absolutely no reason to embed this kind of crap on a video disc for any reason. Quite simply, if someone wants to copy your disc, they're going to. Period. If Sony can't make uncopyable discs, then Jim Bob Skippy certainly isn't going to be able to with his personal computer. IOW, put your time and energy into more useful pursuits...like making a product people actually want to give you money for. Something Sony apparently needs to learn.
I'm speculating but I think it was originally more of a project to see what could be accomplished. The author is Italian if I remember right so finding more information is beyond me.
Such wonderful goals. "How badly can we **** up the DVD structure and still have it work?" I wonder if Sony hired him.