It is seriously about time! The D-pad on the current controllers is absolutely awful (for those who don't know, often times it registers the wrong direction due to poor mechanical design). It has made some games (especially live-arcade games like megaman 9) incredibly frustrating.
Its naive to think that buses are only good for storage.
1080p video is 1080*1920pixels/frame*32bits/pixel*60frames/second is roughly 4Gb (uncompressed). If history is any indication displays will get larger and denser (also remember bandwidth needed will scale by the square of the number of lines). Or what if you want an external GPU? 16x pci express is about 32Gbits/sec. Also more speed reduces latency, which may be helpful too depending on what you use it for.
in fact this is a complete departure from a von Neuman architecture. The architecture is called a Dataflow architecture. In one sentence a dataflow architecture is one where instruction execution is based on the availability of the instructions inputs not a program counter.
The article does a very bad job at conveying the fact that this is a relatively new idea. Like most reporting they report something thats been in research for some time as a huge breakthrough without describing it at all. Instead its really just an incremental step in dataflow computing research.
I work in a lab at the University of Washington on another dataflow architecture. Its a really interesting idea but it will take some time to develop and you're not going to get one on your desk for some years to come.