It looks absurdly overdesigned to me, and it doesn't do anything my <$100 Lands' End attache won't do. Also, I can't imagine anyone stopping in the rain to deploy that stupid "rain hood."
As a protective sleeve for my Dell laptop right now I'm using a freebie slim-design "brief bag" that Book-of-the-Month Club sent me. Fits like a glove, shoves easily inside the Lands' End bag, and cost $0.