Though, my understanding was that cloaking had to involve the bending of light around an object to make it invisible not the use of a hologram projecting an image which makes the object blend in with its surroundings. However, I suppose that's just an argument from semantics.
Well, I've long had a problem with the old stock sci-fi approach to cloaking tech: "Amazing! They can bend light around themselves! The technology is astounding!" The assumption is that bending light requires some kind of advanced, powerful space warp, like a gravity lens. But that's overcomplicating the problem. All you need to change the path light takes is a lens or a mirror. Magicians have been using mirrors to make things "invisible" for centuries. Now we're developing metamaterials that can potentially do something similar on a much finer scale. Before too much longer, ST's idea that invisibility requires some advanced, power-draining energy field may look extremely quaint. It's more of a materials problem.