It doesn't imply NP is sub-exponential, only that 3SAT is. Conversions to other problems can still end up exponential.
Also for NP problems that can't linear reduce to kSAT just having the knowledge that SAT is sub-exponential (and the tools), makes it a lot more likely that we see a whole lot more problems become exponential.
Note https://news.ycombinator.com/item?id=50253213 which explains it better.
NP is not yet proven to be subexponential but still, ETH disproven is huge