The iCap as the name suggests integrates a baseball cap with a clip on MP3 player with speakers. This 2GB MP3 player comes with a baseball cap or a clip on attachment for the bring-your-own hat scenario. This would certainly be useful for what the site suggests: fishing, yard work, skating, golfing, at the races, or at the ball game.
There are many times when wearing headphones may not be the best case for your activity and I can certainly see this cap as a valuable niche product. However, I certainly do question the $100 price tag for a generic MP3 player with speakers. A sub $60 price tag would certainly be more acceptable. If you are willing to drop a Franklin you can buy it directly from the manufacture.