It could be a step towards seeing what someone is seeing. It's not really mind reading. It's not reading "thoughts", it's reading neural response to visual stimuli. It's cool, but it would just be easier to turn around and look at what the person is looking at, than to hijack the response.
It's only an uneducated guess, but if the visual part of thoughts are generated in the visual cortex, then the device might be able to see those thoughts.
On the other hand, this whole thing is starting to look like the Deus Ex Trailer...
For me, the question is how similar is this stimulation to what happens during dreaming. Netflix would have no draw for me when compared to my own dreams (let alone somebody else's)!
