I played with the website link first, and found it kinda pointless. I was thinking "Well, why the hell would I want to take 50 photos of one area, just to auto reconstruct it in 3D?". Seemed like a pointless idea. THEN I watched the video, and it made much more sense.
Personally, I don't see the point in the technology to rearrange a few of your home photos and link them together. It's not practical to take that many photos. It'd make FAR more sense to make a bloody video!
But the idea that everyone's photos are linked via a computer system on the web, and tagged with meta data, and also the possibility of using that technology to turn 2D data into 3D models is awesome.
Look forward to seeing what comes of it.