The iron is one of the few gadgets that has remained largely the same over time. Even this Steam Iron with LED concept doesn’t change it all that much. It features LED lighting that lets you know the temperature, with red presumably meaning that it’s hot and ready.
There’s also a soft silicone lining to prevent you from burning yourself accidentally, which is of course a big plus for you and the emergency room staff. Sure, it won’t iron your clothes all by itself while you play Xbox, but it’s an improvement. I mean, what else are you going to do to upgrade the old iron?