It should hopefully eliminate the cost disparity between using Fargate vs running your own instances. Should also mean much faster scale out since you containers don't need to wait on an entire VM to boot!
Will be interesting to see what kind of collaboration they get on the project. This is a big test of AWS stewardship of an open source project. It seems to be competing directly with Kata Containers [2] so it will be interesting to see which solution is deemed technically superior.
[1] https://aws.amazon.com/fargate/ [2] https://katacontainers.io/