It sounds good especially if you hate injections and checking your blood glucose levels, however I'm not too sure how many people would want to have this on them:
Just to clarify, Type 1 diabetes is a genetic disorder it will usually manifest itself in the first 20 years of life and is not caused by a bad diet. This is where the beta cells in the pancreas stop producing insulin meaning sugars aren't take up by other body parts. This machine helps provide the insulin.
Type 2 diabetes is caused by a bad diet, and is where too much sugar causes your body to become insulin resistant therefore not reacting to the insulin (produced by the pancreas) as much and therefore less sugar is being taken up. The machine can do nothing for this condition, as the person's pancreas is fine and their cells are not reacting to insulin anyway.
Just in case you wanted to know.