Sounds like it could be called a "novelty" app to me, and one I'd really like to see happen. Regardless, what other methods are available for getting "3D" out of iOS devices? "Cross-eyed" 3D seems even more of a "novelty" to me.
EDIT: Perhaps "a line of products" means hardware in addition to software. I read it initially as meaning a line of apps.
Using wiggle stereoscopy?