Yep. This is one of the coolest things to come out of American car manufacturing in decades and will have a far greater environmental impact than every hybrid vehicle produced thus far. Hybrids will always be a sham feel-good item due to their reliance on expensive exotic materials for the batteries.
AFAIK this is the first time a major manufacturer has gone all aluminum for a popular mass market product. Cutting weight is something so basic yet so crucial to future auto manufacturers it's a wonder no other manufacturer has tried it, but the cost and risk of switching to aluminum is the most obvious reason. However, due to it's wide use for years in aircraft manufacturing the chief reason would appear to be cost. Other than that there appears to be no reason why it won't succeed.
Now for the next leap: all composite material vehicles!