I was able to get the original before it was pulled from the App Store. it worked well, glad to see they found a work around. I expect some type of backlash from AT&T/Verizon/Sprint However, I hope they make enough to afford the lawyers.
If that were the case they could easily market a "lite" version that required a personal proxy (at half the cost?). Then to build off that, a corporate version for ~$200*(size) that could be used for your employees using your company proxy. I wonder if they could do mac auth or allow ldap calls for user verification. I could even see this as going so far as a lightweight VPN (if possible).
What's to stop the carriers from simply blocking (or throttling) your proxy servers? Or conversely, simply detecting which customers connect to your proxy servers and automatically charging them for tethering (as they've already done in other cases).