Whilst described as a "model helicopter" the object is, in fact, a "drone" which looks as if it's going to be this year's number one Christmas present in the UK.
Many of the small ones are restricted to indoor use and don't have much of a range, but the bigger, more professional drones carry an on board video camera and can be excellent fun if you want an aerial exploration of an area.
Prices range from £25.00 to about £500 (or more, if you go for professional camera equipment on board). Flying time is between 10 and 20 minutes on a single charge of the LiOn battery (although one can acquire spare battery packs and/or rapid chargers). Some don't even need a controller, the flight controls are made through an app for Apple or Android devices.
Apparently, this "drone" was operating at 700 feet so must have been one of the more expensive models. The danger to an aeroplane would be if it was ingested by an engine on take off or landing - the hard plastic would undoubtedly shear fan blades in the same way a "bird strike" can. We would far rather not have an extra burden to cope with thank you!
I think, this may be like the "laser pens" issue where naughty scamps will try to interfere with aircraft, just as others think it funny to throw stones from motorway bridges or pile stones on railway tracks.
In the right hands, though, these things look like an interesting and amusing hobby. If you follow this link, there's a video showing a "Quadcopter" flight - this model's control range is advertised as 80 metres (about 300 feet):
http://www.apexmodels.com/gbu0-prods...-QR-W100S.html