"Should we care?" is what I'm trying to figure out. Redhat has lost almost all relevance in the Cloud-arena. CloudStack is in Apache Incubation, and OpenStack Essex is already live in Ubuntu 12.04 LTS. Redhat's OpenStack is presumably all KVM-based as it's built on RHEL6. Does it support bare-metal Cloud instances? Granted, this feature is 'beta' on CloudStack, but it is still there to use.
It seems like a desperate play to stay relevant. With Redhat's "virtualization brain trust" posting erroneous and irrelevant FUD while moderating/rejecting all replies, it appears there's a severe lack of strategy outside of "stop all the Xen-based clones with dom0's based on our OSS distribution!" Redhat shot themselves in the foot pushing KVM down people's throats to thwart Oracle and Citrix clones.
As someone that's built Private Clouds, and runs significant amounts of infrastructure, I personally have a hard time caring. None-the-less, I'm checking it out to see if the Swift object storage part is in any way cleaner integrated. If it's just some pre-built, probably back-level RPMs, I'll be highly unimpressed.