Yup. ASL uses a pretty large amount of space and it's not clear to me that this thing can resolve every gesture. For instance, what happens when one hand occludes another from the Leap's perspective? Can it know that my thumb is up if the rest of my hand is hiding it?
But we can imagine a kind of ASL shorthand, like the original Palm Pilot's 'Graffiti'. Or, maybe if you buy two or three, you can set them up to combine perspectives, giving them more insight into the full 3d space.
That could be useful to deaf people and maybe could also serve as a new form of shorthand for people who are writing long texts on devices without keyboards.