I do not think that i would want to wear this around a campsite, especially if there was any kind of a campfire or even a cooking fire burning at the campsite.
It does look rather other-worldly, and that part would not be an issue if I were concerned about keeping warm; however, the idea of safety seems to me like it would be a very real concern.
With that much padding, you might not realize that it had caught fire until the fire had actually spread far enough to burn through the sleeping bag material.
On the plus side, this might be helpful if you were attacked by a bear in camp. With all of the extra padding, you would have more protection from being bit or clawed by the bear.
However, I think that this would be a great (actually super-great) idea to have one of these in your house to keep warm with if you lost electricity and it was in the wintertime.
If you were traveling on snowy winter roads, then having it in the car could help keep you alive if you were stranded in one of those unexpected snowstorms that sometimes shuts down the highway and people are trapped for hours before they can be rescued.