The only problem with the AirBow is that regulatory agencies can't allow its use, because they don't have it defined yet. For instance, most states define a firearm along the lines of propelling one or more projectiles due to a combustible or explosive propellant. Long bows tend to be defined as a hand held device that uses limbs and a string that is drawn and held by hand or hand-held mechanical release to release an arrow. A crossbow is a device consisting of a traverse limbs and a string mounted to a stock for propelling arrows. A muzzleloading rife or shotgun is one that that has a permanent breech plug or removable breech plug that renders the device inoperable, is not capable of firing modern day ammunition, and is loaded exclusively from the muzzle. As you can see, none of these general definitions accurately define air powered devices, regardless of the projectile they are shooting.
Unlike big bore air riles that will have a small following for hunting (in the big picture of hunting) due to their distance limitations and cost, I think we'll see the exact opposite and have multiple copies of devices like the AirBow as they out perform a large number of longbows and crossbows. Additionally, the price point on a device like the AirBow is equal to or below moderate to high end longbows (by definition longbows include compound bows, recurve bows, and traditional longbows) and crossbows which will be a big selling point. It is easy to see that the AirBow is easier to use than a bow or crossbow for first time hunters, youths, and people with injuries. It doesn't demand the practice of traditional archery nor does it require the strength or special equipment for cocking like a crossbow does, both of which will increase demand. Another nice feature is that unlike ISO FPS ratings, the AirBow does not have the 30 inch draw, 70 pound, and/or 350 grain arrow criteria to deal with. Instead, you can get a slightly faster FPS if you use a broadhead under 100 grains or a slightly slower FPS by using one over 100 grains with a full air reservoir.
In short, this will mean regardless of a person's draw weight and draw length limit, they will still achieve a very high level of performance within the ethical distance parameters. This will create a demand that is going to force agencies to define air powered devices and if not allowed for hunting purposes, justify why they cannot be used.