Very cool!
I can see this quite useful for educational demonstrations of physics situations and mechanical systems (complex gearing, etc.). Also maybe for product simulations/demonstrations in the design phase — take output from CAD files and make a nice little 3D demo.
Maybe have an "inertia(?)" setting that makes it keep turning when you move far enough off center, as if you were continuing to walk around it.
The single-viewer limitation seems obvious and fundamental, and maybe a bit problematic for the above use cases, such as when showing something to a small group of people. One key may be to take steps to ensure it robustly locks onto and follows only one face/set of eyes. It would be jarring to have it locking onto different faces as conditions or positions subtly change.