What I see is non stainless hardware that holds the boat together and needs to come apart every time the boat is used if folded up.
Are those small holes not what the bolts with the rubber seals go thru? For which I could see them failing and leaking. My opinion is that it should be something that doesn't rust and can be easily taken apart by hand. Butterfly nuts are not cold finger friendly.
The design with the transom not being attached on the inside looks an "interesting" design choice.
I really like the idea of a light weight folding RIB though, so with a few minor improvements they should have a decent little boat.
If there is ever a demo day in the Bay Area (Preferably as far North as possibly), I would be interested in a ride just to see how it is. I might be needing a small boat in the future.