It uses a HCS12 - if it's similar to the normal (slower?) HC12 series, it's a 16 bit MCU with built in EEPROM/SRAM (but you can map more memory externally). It's an embedded CPU for eg. security sytems, telemetry, control systems etc.
It's got a great instruction set - some fuzzy logic in there even. 16 bit (and 8 bit) op codes, heaps of addressing modes. It's a great C target anyway..
I'm actually writing a tiny RTOS for the HC12 - multitasking, small API, memory managment.
How does it compare to the 68000? Well for starters the HC12 only has one stack pointer.. so it doesn't really... the 68000 as we know it in an Amiga context was a dedicated CPU, with no inbuilt RAM/ROM, and physically it only had address/data bus ctrl lines. These HC12s are more of an evolution of the 8 bit 6800 series; these are entire stand-alone CPUs with inbuilt peripherals, such as serial ports, A-D converters, PWM, CAN, SPI, I2C, etc.
I have doubts they will sell this for $99 USD. I had *MAJOR* trouble getting a 68HC912B32 evaluation board for $89, and the major features with this was that it had a serial port and power regulation.
But, if they do sell it for $99USD... I'm buying one, no question about it. It makes a cheap evaluation system for a HCS12 - the only supplier of HC12s (by themselves - and I don't feel like trying to solder high density QFP chips!) I can find has $100 minimum orders

I think this would be cool to have. Maybe I would interface a USB NIC to it and put it on the web... possibilities are endless

Cheers,
- Paul