In the two test launches shown in the video, the "missile" doesn't fly straight nor does it demonstrate ability to be "guided" by the launcher towards any particular target. It's also incredibly slow. There are children's rocket kits that fly significantly faster than this.
Baby steps ... with a few more contributors, this could be turned into, say, a $500.00 missile that works quite effectively.
If I am understanding what I saw, for all the work on the canards, the propellant runs out immediately leaving it to tumble in air,
That being said, I agree that it's a prototype and all that entails. I agree that it can (and probably will be) improved upon.