This seems like a Spruce Goose kind of effort: One of those things that a rich nutball makes his pet project, to prove a point... just in time to be surpassed by other superior technologies. I fully expect this thing to fly, launch a couple of systems, and then become a tourist attraction that people pay $15 to walk around out in the Mojave Desert.
I think it was Dwayne Day that pointed out what a stupid idea Aurora/Brilliant Buzzard was because the effort to get near the Kaman line pales in comparison with the effort necessary to actually get over the Kaman line and really, you're far better off just sitting your payload on a big fuckin' rocket. My personal hypothesis is that the Scaled approach to suborbital launch was deemed far riskier than initially calculated and they're trying to scavenge a profitable use from the technology. Accidentally dumping a few microsats into the ocean is a lot less damaging to the reputation than dumping a payload of rich people.