It means that collisions are now possible, and are within reach of moderate sized organizations.
This is the key. 6500 CPU years or 110 GPU years of computational power is not that difficult to achieve. When this news broke last week a few of us at my work had a discussion about it and while those number sound impressive we then realized that at work we have access to probably 2x that processing power in our building.
The simple act of counting that high on an ideal classical CPU would probably kill all surface life on Earth.
Nope. The energy requirement while substantial is not insurmountable. I believe that the amount of energy to cycle a 128 bit counter through all states on an ideal classical computer is around 10% of the total annual US energy consumption. This assumes an ideal machine which happens to be many orders of magnitude more efficient than even our best computers so using conventional technology it would be ocean boiling energy consumption.
"It ain't so much the things we don't know that get us in trouble. It's the things we know that ain't so." -- Artemus Ward aka Charles Farrar Brown