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I don't see something like this working in the long wrong. Someone will know the shock is coming and will easily take it off to avoid it. Plus the color and look stands out too much. There should be a more discreet model so the whole world doesn't have to know you're trying to change yourself.
This looks like an excellent product. I would imagine setup to be a chore if you want to learn a really specific behavior. However, it's a great way to take advantage of natural hormonal and chemical releases to train the brain. It's very interesting how malleable the brain is and how seemingly basic things, repeated, can affect it.