How is this "fixing the internet"? This is just good old network optimization. And a local one, not "internet-wide" by any means! Colossal undertaking, sure, kudos to Riot team for pulling it off. But... I don't see what makes this different.
I am the author. We are building it out world wide, but you are correct, this is for one application. The same blueprint could be used for any other application though.
Peyton