You're missing a major point. This feature brings the socialability of playing in the same room without them being in the same room. Remember in the old days, you'd have a friend call you up, and he/she is all "I just got this super awesome game called Super Mario Bros! You should come try it!" And then you'd go over there and try it out, then probably convince your parents to buy it for you. Rinse. Repeat. This is how games got hyped in the old days!
This is an evolution of that idea; that idea adapted for a social, connected world. For people who have friends who lives miles, states, even countries away.
Granted, maybe this isn't a big deal, but it looks like a potential..*ahem*...gamechanger for social, for a company that, frankly, has had a lot of trouble this gen developing a good social community.
The cloud stuff interested me a lot, even though I hate cloud-based BC -_-;.