The jargon and the tech are a bit complex, but the video illustrates this nicely.

It balances one a single point. So if you put this on the point of the Empire State Building and stood on it, you would be perfectly safe from falling.

And now even you can ride a unicycle.

But I think they have more in mind the potential for using it in satellite systems that have to steer and sometime maintain a direction.

Yes, probably that…

One-Wheel Cubli Balances Like Magic – A single reaction wheel enables two-axis balancing, which shouldn’t work but does