Why is this so bad that it is funny?
Well, for one thing, it isn't even remotely "safe". It blocks the drivers view of the vehicles instruments. It encourages fiddling with a touch screen while driving. It may interfere with good hand-to-hand steering. And, perhaps most dangerous of all, it is close to the deployment zone of the driver's airbag.
Can you imagine the damage that thing could do, if you are in an accident with airbag activation? As your body moves forward during the crash, the airbag flap opens violently, flinging a glass and metal smartphone up towards your forehead.
Or in a rear-end accident, your iPhone becomes a projectile, snapping out of its holder and flying towards your face.
This thing is so poorly thought out, I have to believe that they guy posting it is joking. Right?
