Dang, knowing nothing about Lipari-rama cameras, that seems like a quite reasonable price to me! Sure would be a lot easier to use than a century-old Cirkut camera. Assuming that takes 120 film, so that would also be easier to source these days.
It looks like the identical concept to a Cirkut camera, just way more compact and modern. The camera rotates, which moves its slit-shutter through space, in an arc. The film moves, to put fresh film under the slit-shutter as it moves. Imagine a design where this big lens takes a picture on a big wide piece of film. Now curve the film into an arc, and curve the lens into arc out at its larger diameter. (That last part is impossible of course.) Your subject would then also be an arc, at an even larger diameter. These cameras just effectively make that happen, using normal lenses and film, by exposing a very narrow slice of that scene at a time, across time, while the camera moves from one side of the arc to the other.
The whole trick is synchronizing the motion of the camera and the film to match the distance of the eventual subject. And understanding how long the slit is open for any given spot on the film, to calculate the effective shutter speed for your exposure calculations.
Duncan