Never heard of that particular product, and I would agree with Ray
about decanting.

However, I will repeat something here that I posted previously - if you
have a really young red wine that still needed to age but you want to
have right then, you can "speed up aging" by decanting half the bottle,
then "shaking the snot" (professional wine-maker term. Really. That's
who I got it from) out of the wine for 10-15 seconds. By rapidly
speeding oxidation, you can get the flavors you want in about 15
minutes. However, the wine will be dead in about 2 hours, so plan to
finish the bottle that night, or cook with it the next day.

I suspect this is what the wine breather is supposed to do something
similar, though a little more controlled and slowly. Personally, I'd
stick with decanting.

Rob