I have to agree...
So far, it's just more eye-candy IMHO.
I mean, who wants to put notes on the backs of web pages - seriously? It would seem more practical to me to be able to annotate files in a list as part of the filesystem - or like Opera which lets you annotate bookmarks with text descriptions.
Searching CD's by their picture? What a waste of computing power! What's wrong with a list?
Nothing in that demo seems like a revolution in GUI design.