The possibilities for VR, video scavenger hunts, 360 degree web series and movies, event coverage, and more are huge. Much more dynamic than a static video, allowing for multiple viewings with unique experiences each time.
I'm impressed. This will definitely mean higher engagement and more views per unique person. Advertisers will love this -- not to mention hidden native ads within content a la the above mentioned scavenger hunt. This will be fun to watch.