No binocular 3d, as it's only tracking the single iphone - it's not producing a distinct image for each eye as a true hologram would, so you don't get the eye convergence cues about the depth of points. Likewise you don't get cues about focus - a true hologram isn't projected from a flat screen, so as you focus on different points in the object, other points will come in and out of focus. The image you see won't look 3D until you move around it, and even then it won't look quite right.
Basically, you're better off with a 3D screen like on a 3DS probably, or an oculus rift type thing - that at least gives you convergence cues. And it makes it clear it's designed for a single user; this device can't produce separate images for different users, yet the way the stand is set up makes it look like it's designed as a centerpiece multiple people can walk around to me.