It kinda looks like the casing for a Wii and a PS3 went though some Fusion and then they through in a Kinect for good measure. Looks they got everything covered except the software... and maybe a controller with some actual buttons and stuff



pre-post edit:
Looks like it may have a controller and games after all
“[ISEC] can not have great graphics of the game, or a large amount of violence, but it may inspire family members to the couch and exercise,� says Luo. The console is expected that about 30 free games, when it finally arrives this year, and those titles will play with the built-in motion sensor technology similar to Kinect's.

So a PS3 looking Wii that comes with a remote and a Kinect.
Also focuses on motion controlled games, and more specifically Sports related games...
Yep. All bases covered.
Doesn't hurt that the initial 30 games are free.
post-post edit:
Forgot that they also changed the name to have a lowercase i in it to appeal the iPod/Phone/Pad crowd, so they truly have covered just about everything they could.