Similar devices have been in use for years in the nautical community. There they are called EPIRBs or Emergency Position Indicating Beacons, and they have a solid history of assisting in rescues at sea.
More recently, they have been reconfigured and made available for use by those who may find themselves lost in the wilderness.
They both make use of the Global Positioning System, a system comprising a "birdcage" of geostationary satellites that provide constant triangulating radio signals to terrestrial receiving devices. They can give a latitude, longitude and altitude that is accurate to about 9 meters for civilian units, and about 3 meters at mach 1 for military devices.
In my opinion, the biggest problem with the GPS systems used on boats is that they allow minimally skilled sailors to make lengthy passages that they are not skilled enough to attempt. In other words, people who have no business being on the water and out of sight of land regularly get themselves in trouble on the high seas where they then use their EPIRB to facilitate rescue.
Similarly, an emergency indicating beacon for hikers, hunters, and others provides a sense of confidence to those who may not have the skills to get out of a bad situation they should not have encountered in the first place.
I believe there should be areas that are "No Rescue" areas. Yes, you can go into these areas, hunt, fish, or climb as you like. But, if you get your a$$ in a bind, it would be up to you to get your a$$ out of said bind.
Sadly, that's not likely to happen.
An alternative would be for the initiator of a rescue to pay all the costs associated with that rescue. This should be irrespective or whether or not it was a true emergency, or as in the cited case, simply because someone didn't think they could get their personal butt out of a bad jam. In other words, don't use my taxes to help some stupid person out of a jam.
That's not likely to happen, either.
With all that said, I had a GPS and an EPIRB on both my cruising sailboats. However, when I have gone into the wilderness, I have taken topo maps and a decent compass. And I went in prepared for conditions likely to occur. I also provided someone else with details, goals, and timelines I expected to encounter. If I had not returned within 48 hours of my planned finish, they would have notified authorities or gathered a bunch of friends and mounted a search.
I did not and I would not want to take a signal beacon with me into a wilderness area. Yes, a beacon would facilitate rescue, but it's kind of a wussy thing and I believe it helps make a person a little less careful and a little more prone to exceed skill levels.
FWIW,
Crusader