The description sounds like software defined radio. A CPU's frequency jitter doesn't matter at all for haptic feedback. Presumably it's not for WiFi, as there are plenty of cheap well-tested WiFi chipsets, so maybe for wireless controllers.

Edit: I was wrong about the frequency range, a sibling comment to yours mentions IR, not radio. Though, their mention of "radiator of choice" sounds like this same chip (or related chip) could be fed into an RF modulator/demodulator to build a software defined radio.