I did see the video, and it looks interesting indeed. I guess I should contact Badger to see if they can explain the differences between the 2 models (other than folding / non-folding). The Shen Hao website actually shows 3 models I believe, but doesn't explain why you would choose one over another.
It deploys in seconds - in fact you can attach a neck strap and shoot handheld! The cone is rigid, but it has a focusing helical so you can adjust from a few meters to infinity. If shooting handheld, you would use the viewfinder to roughly frame a shot, set the distance on the helical, and then fire. You can also remove the back, attach the ground glass and focus and frame with a loupe, just like a 4x5. The downside is that it has less movements.
For printing, you would need a 5x7 enlarger, or build something custom. Although, the contact prints from it do look really nice! (but small).