It's just a much easier way to get the beta installed which doesn't require iTunes. Just open the profile on your device and next time you check for updates in the settings, the beta will be offered to update to.
Do you still have to have a developer account to get the profile file? Or is it publicly accessible? I was the beta to try out flux (or whatever they call it) but I don't write apps so there is no point in spending the $99 just for that.
In the release notes they state that the device still needs to be registered. Mine were, so I can't tell you whether this really still is required.