While there are several ways to approach direct brain communication, they all have their benefits and drawbacks. Indirect methods, like this one, are much safer. But direct implantations, while riskier to get going, have the potential for near unlimited speed (both in bandwidth as well as reaction time).
The latter definitely will have more benefits in the long run.
Does that mean I'd want one in my head right now? Absolutely not. But if I were a unable to control most of my appendages, I'd definitely consider it.
No, it appears to be an external headset, although it was noted that people wearing it looked like they had head injuries, but they are working on improving it so that it is less visible.