I'm not sure why this isn't exciting to Real Amiga owners.
New Kickstart
Potential for CD-Rom boot
Potential replacements for all outdated OS parts
Standards for drivers
Standards for RTG
Standards for PCI access
Most importantly, developers can finally develop RTG and other drivers, bypassing the assholes in control of Picasso, Cybervision and proprietary PCI buses. (If anyone has hurt the 68k cause, it's those guys)
And nobody can sue this project out of business, it's open source so it can live forever.
Once it is ABI compatible, this will be the biggest thing for Amiga since OS3.1!