The Internet was founded upon the idea of open interoperation between all endpoints and federation between different instances of the same service protocol (think of SMTP and globally interoperating MTAs). These concepts were so fundamental that they are mentioned explicitly in the IETF Mission Statement as their central goal.
Then Big Business came along, and they didn't like the concept of a level playing field of unhindered interoperation and federation. Now almost every large corporation is trying to fence off their little corner of the Internet into a private realm which they guard jealously. Other companies are denied interoperation unless they pay up (or it's denied entirely), and federation between like services is virtually unknown. There is no "Facebook service" which anyone can install and then be able to federate their content to and from Facebook as peers.
Virtually all of the megacorps today are behaving this way: Facebook, Google, Amazon, Yahoo, Apple, Microsoft, and so on. They all hate the open Internet, and have closed it off at the application layers of the protocol stack so that you have to be an enrolled member of their private realm to participate. The closing of APIs is par for the course as they don't want interoperation, and federation even less. TFS is spot on.
At least we still have federated SMTP and unrestricted search engines, although probably that's only because they're data mining our email and search queries. It's no longer the open Internet we once had, but more a system of feudal lords and their private domains, and everyone else is a peasant.
It's a severe regression of Internet utility, and it's of benefit only to them.
Does this give us anything Raspberry Pi didn't?
If successful, it would give the ARM world a PC-like, vendor-neutral standard architecture, and so it would counteract the horrible balkanization of ARM communities by every manufacturer's boards being different.
Even if this doesn't succeed, standardization is a very worthwhile goal for ARM (just as it was for x86 PCs), and it's quite important that a broadly funded organization has recognized the need. It will also usher in the days of ARM64, at last.
There is one glaring omission in the spec though, the lack of Ethernet. No Ethernet means extremely limited sales outside of mobile, and at the HiKey's price of $129 it has to be gigabit Ethernet at that.
"Your mother was a hamster, and your father smelt of elderberrys!" -- Monty Python and the Holy Grail