I got to demo a Krampus very briefly today (mile and a half?). It was fun.
The idea that it floats like a fat bike? Nope. Was able to get squirrely in some sand.
However, the tires are fun and big. I ran mine at "I have no idea" PSI, on dusty hard pack. Given that I rode it such a short distance, all I can say for sure is that it corners very well and complains less than my fat bike off camber (!), rolls forever, and is generally well mannered. The name 29+ is very appropriate.
I'd want one with a suspension fork, but that's just me, I want a full suspension fat bike so take it with a grain of salt. At any rate, the tires, at first blush, appear to be exactly what they look like: a really big 29er tire that you can deflate a bit, trust in the corners, and coast a long way.
The frame itself: not much crazy going on aside from the chain stay yoke, and even that looks more sane in person than in photos.
I want one. Next summer for me, out of being optimistic that snow will actually fall here this season.