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Periscope app for live video?

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Unlike the YouTube and Facebook apps, the periscope app is able to use your wifi connected device (i.e. GoPro) as the source camera for live streaming.  At first glance this seems like another budget option similar to just mounting a phone in the car and broadcasting directly through one of the apps I mentioned.  This eliminates the need for an encoding device and a separate data connection device and allows you to hone the system down to just a GoPro and a phone with data.  


Quality is probably questionable or at least hard to control.  Champcar live broadcast may not be able to pick it up either.  Still, it might be a good tool for teams wanting to see what their driver is seeing and share it with others. 


Has anybody else given this a shot?  Did I miss something that makes this unworkable for what we do?

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