Well it generates pretty pictures! But more importantly it's a proof (of Blitter Turing completeness). Other more convenient cellular automata might be possible. If you can do Rule 110 you can, in theory, do anything at all.
So you're saying that Amiga's could in theory be evolved to self-thinking entities by using custom chips as their "brains"
http://www.youtube.com/watch?v=3zhqCccFsGc
