I checked out their site too -- looks like they compete with Cisco! Considering 3COM, Bay Networks (is this Serverworks now?), and HP (although we're exiting the business) weren't able to compete very well, I don't know that they can succeed. This sort of sounds like a company that wants to be bought up: does the guy you know typically gamble?
Actually I wouldn't care way too much about how the company does. However, it would be very bad to be hired today and get the pink slip next week. Given the economic environment and the business that Terablaze is in this scenario is very very likely. (additionally, they don't have a product yet either)
On the plus side, they aren't located too far away from you if you decide to go by to check them out.... Hamilton Avenue.... around Ebay or Fry's Electronics in Cambell.