Yes, this is being very over hyped, RF backscatter is the same basic mechanism that RFID uses, there are a ton of good tutorials online. There are a number of ways to increase the range of backscatter systems like RFID such as spread spectrum. One of the other problems is multiple access, how can you tell if back scatter is coming from source 1 or 2 or 3, that has also been worked out in RFID using a coding scheme (eg. PN codes). Basically these guys rediscovered RFID technology and got kind of excited. This is not to say that there are not interesting applications, two passive devices can communicate between each other given a strong enough source signal. But the applications are limited, usually, if you have 2 devices that need to communicate between each other, you want to do something with the information being exchanged, maybe light an LED or something, that would take way more energy than you can harvest from ambient RF. Once you realize you need a battery, then it is just easier to put a simple 802.11 or 802.15 transceiver in.