That's cool, I guess. The percussion is cool, but his chord choices are sort of lacking. Just a lot of airy, open sounds. Would sound cooler if he had more knowledge of the guitar. Michael Hedges and Keller Williams (among countless amount of douchebag 12 year olds in guitar center) pretty much play in the same style of it. Done live it's pretty cool, but I can say that I would never listen to it at home. But this is just my opinion. Not telling anyone to stop groovin' on it...to each his own.
He learned from Hedges, if I recall, and now he could easily out do him. I really get what you're saying about the chords, but I think a lot of that has to do with the fact that it's recorded... and most likely not recorded well. When my bro used to play Tribes, he couldn't do it half as well as Mr. Reed could, and it still sounded utterly amazing when you're sitting right next to the guitar. It always seemed to me that in general, the natural reverb effect from acoustic guitars, can be nearly if not totally lost, when recorded (unless of course in a full on studio environment.) That's what gives the chords their actual character, IMO, when you just hear them ring out and blossom in real life. Either way, looking beyond all the aspects of how he's playing; the general idea of it is the coolest rhythmatic expression I've heard since the first time I heard SRV take the blend of lead/rhythm guitar style that Hendrix laid down, and turn it in to his cover of Little Wing Edit; It's really fun to play in the tuning he uses (in this song), also. I swear you can't hit a wrong note with it...