The OS knows about entire applications / resource bundles / documents and can run stronger heuristics against your usage than a blind block-level controller.
If you have a large document (a few hundred MB) in an editor, the HD may SSDize parts of the document over and over again until the entire document is moved/cached. An OS-driven approach could move the entire document in one go.
Instead, this appears to be an implementation of so-called "tiered storage". This is novel in that is the first time such an approach has been applied to consumer grade solutions. Usually, one might find tiered storage as part of an extremely expensive solution that EMC might give you as part of an elaborate storage system.