Besides I have never seen "ordinary people" fumble with aperture size and exposure length so that's a solved problem. Sometimes it gives "wrong" results, like exposing for the highlights rather than the shadows, that's what this technology solves.
> there's simply no way to expand the camera sensor dynamic range without taking multiple exposures
† here http://web.media.mit.edu/~hangzhao/modulo.html (linked by putterson in another comment)
The only thing I would consider that solves "fumble with aperture size and exposure length" would be huge ISO range (both ways) without any noise.
> No more will photographers or even ordinary people have to fumble with aperture size and exposure length.
> I just don't see how it solves this issue.
What would normally have been indistinguishable blacks are pushed into the midtones and you get a flat, grainy image. It just looks like garbage because noise gets out of hand and you lose all your color depth, but there's more dynamic range there in the sense of there being more stops of light crammed onto the final image.
There is a physical limit of the camera or the film where you cannot actually squeeze any more accuracy out of the ADC, but standard conditions are nowhere near that limit.