From the article, "Goes down to 17 degrees" and "The coat-bag weighs only 1 pound and looks like an extra-large coat with a big hood. It costs $7 to $10 to produce."
AFAIK, there is nothing on this planet that can keep you warm down to 17-degrees that weighs 1 pound and can be purchased for $7-$10 in raw materials.
900-fill down sandwiched between cuben fiber and a vapor barrier would get you close, but I can't even imagine what that would cost.
If something like this exists, every person on this site will buy one. My guess is that the news article has most of the specs wrong.
1#, 17-degrees, <$10 -- Pick one, maybe two, but certainly not all three.