It depends what you want to use it for. I'm imagining this being used in small embedded projects where the physical size of the current Pi is undesirable.
How do they rate against Videocore IV? AFAIK, ARM core represents only about 2-5% of total computing power in RPi. And can you provide some links, please?
I see it more like a SIMD processor than a GPU. It's not massively outstanding, but there's a lot of value of it having an open documentation, a known instruction set.