Can't wait until it is bought by an existing company and then discarded, like its previous competitors.
Test strips are $1 x 5 times per day x 30M diabetic Americans. How can this even compete? You can’t sell RF “per-use”.
And why shouldn't this compete ? Their costs will be lower than test strips, their profits could be very significant.
They probably monetize with the device itself and then a monthly subscription for their tracking portal. Sounds quite reasonable to me. As a patient, I'd love it.
Edit: As a startup, it's not your job to match existing offerings - it's to disrupt. Ask Space-X, they can't compete with Boeing either ;)