This is potentially super powerful for the idea of a pocket spectrophotometer for everyone. This idea has been in many startup pitches over the last 15 years -- the most common consumer use case is identifying allergens. I can see this being useful beyond that too, with things like reagent free desktop drug testing systems that don't cost $25k.
Not really. You can build a pocket raman spectrometer for probably 1000usd max.
Refractive index based classification across wavelengths is probably not going to help you find allergens. Unless you isolate the allergen from the mixture then take the measure and have it in your model...