First, we're going to need to arrive at a consensus definition of "TFP" because topical oxygen seems out of character. TFP will dispense some topical amerigel or laser therapy but not get involved in anything that is reported to work in the literature.
Speaking of literature, I suppose topical oxygen would be just as effective as all the other modalities that have been proven to work in the literature, including Hyperbaric Oxygen, the myriad skin graft substitutes on the market, the Cartiva implant, and of course diabetic shoes.
Final random thought, outside of an academic medical setting, who's expecting patients to actually wear that thing for however many hours/week they need to supposedly get a therapeutic benefit?