Admittedly it's doubtful this works nearly as well as the demonstration makes it seem, so Photoshop will always have its place. Still, this has the potential to be a game changing technology. It could redefine how we search for images on the web, and help immensely for those of us looking for images in composites. Also, in searching for reference for illustration this is on exactly the right track.
While it's doubtful its selections and image finds are perfect, it indicates that one day they will be. Just when I thought Photoshop featurewise was plateauing, needing to dip into the well of 3d and video to help itself along, a concept for a program like this comes along with the abiltiy to change the fundemental way of how people approach photo manipulation.