I'm not really impressed. I think it is impractical. It's larger, less maneuverable, likely less efficient, possibly noisier, likely considerably most complex to maintain, and most certainly way more expensive compared to the vehicles it is supposed to replace. Hey, it might be perfect for the military!
Did you notice at 1:20 that he didn't go over the curb? Did you notice at 26 and 1:26 he can't keep it straight?
Cool concept and fun toy? Sure! Practical and revolutionary? No way!
EDIT: I forgot to mention: I don't play golf, so I don't know, but I'm guessing at some point you back up a golf cart. IIRC, Hovercrafts are REALLY bad at backing up...